Coal · AGL Macquarie Pty Limited · Turbine - Steam Sub Critical
Dispatch target (cleared) vs availability — 5‑minute intervals. NSW1 regional price (RRP) on right axis.
03 Jun 2026 22:40 → 04 Jun 2026 22:40 AEST
Estimated $ per interval using regional RRP and MLF effective on each day.
UNIT_SOLUTION (5‑minute intervals). Intervention intervals excluded.dispatch_price RRP matched by settlement time and NEM region (from generator registry).| Effective from | MLF |
|---|---|
| 2024-07-01 | 0.9663 |
| 2025-07-01 | 0.9632 |
| Capex total (greenfield) |
$2,529.01M
Shown in table Reported / source value The saved AI note for this row describes refurbishment or upgrade capex, not greenfield construction. See Capex refurbishment or run Refresh from AI for an updated source. Reference |
|---|---|
| Capex refurbishment |
$264.55M
Shown in table Reported / source value How this was derived Reference |
| Capex / MW derived |
$3,691,983
Shown in table Reported / source value The saved AI note for this row describes refurbishment or upgrade capex, not greenfield construction. See Capex refurbishment or run Refresh from AI for an updated source. Reference |
| Fixed OPEX (annual) |
$19.18M
Shown in table How this was derived Reference |
| Fixed OPEX / MW-yr |
$28,000
Shown in table How this was derived Reference |
| Variable OPEX / MWh |
$4.22
Shown in table Reported / source value How this was derived |
| Fuel cost / GJ |
$4.75
Shown in table Reported / source value How this was derived |
| Heat rate GJ/MWh |
10.80
Shown in table How this was derived |
Confidence: medium · Status: ai estimated · Capex basis: default · AI checked 04 Jun 2026
Notes
No specific financial data available for Bayswater. Estimates and defaults may be applied in absence of specific values.
No verified greenfield original construction cost for Bayswater/BW04 was found in the searched sources. The available sources support only brownfield maintenance/upgrade spend, including AGL's announced >$200 million Bayswater upgrade over four years starting in 2018 and $70 million of completed works in 2019; a 2023 AGL update also referenced $190 million in Bayswater maintenance programs and $120 million on unit one. Bayswater was commissioned in 1985 and acquired by AGL in 2014.
Bayswater Unit 4 (BW04) is one of four units at Bayswater. Public sources provide station-level rather than BW04-specific economics. Original 1980s construction cost was not found in accessible official sources. The capex value shown is an estimated one-quarter allocation of AGL's reported >AUD200m 2018 Bayswater turbine upgrade and ongoing outage-capex program, not original construction capex. Fixed and variable O&M are technology-default estimates for large black-coal subcritical plant without CCS from GHD/AEMO 2025; annual fixed opex is calculated as 685 MW × AUD28,000/MW-year. Asset life is calculated from 1985 commissioning to scheduled closure by end-2033; Nexa notes AEMO's generic technical-life assumption was 50 years and the original expected closure was 2035. Heat rate is AEMO station-level heat-rate data for Bayswater, not DUID-specific. Emissions intensity is AGL FY22 sent-out intensity for AGL Macquarie Bayswater; CER defines its own facility intensity on production rather than sent-out basis, and later CER/third-party values may differ.
Capex_total_aud is not original 1980s construction cost. No reliable public source was found for original Bayswater construction capex; the value used is AGL's reported 2018 station upgrade/maintenance program of more than $200m, which improved capacity/efficiency and is station-wide, not BW04-only. A 2016 AGL project separately reported $63m for a station-wide distributed control system. Fixed and variable O&M are default technology assumptions from AEMO/GHD 2019 black-coal-without-CCS cost parameters in real 2018-19 AUD, applied to BW04's 685 MW capacity; they are not reported Bayswater unit accounts. Heat rate is AEMO's Bayswater static heat rate. Efficiency is calculated from heat rate using HHV efficiency = 3.6 / 9.45 = 38.1%; a parliamentary source reports a lower sent-out HHV efficiency of 35.9%. Emissions intensity uses the Bayswater EIS range of about 0.93-0.95 tCO2e/MWh sent-out; 0.94 is the midpoint. Asset life reflects commissioning in 1985 and AGL's current target closure by end-2033; the 2018 EIS stated a 50-year technical life to 2035, but AGL's current closure schedule is earlier.
BW04-specific construction capex was not found. capex_total_aud is an estimate: half of the official June-1979 $590 million cost estimate for the first stage of Bayswater comprising 2 x 660 MW units and associated coal/water supplies. This may not correspond exactly to Unit 4/BW04. Fixed and variable O&M are station-level AEMO/Jacobs assumptions from a 2016 AEMO retail price modelling input table and are applied to the 685 MW unit capacity. Fuel cost is an AEMO 2024 ISP Bayswater assumption cited in IEEFA's submission and may differ from AGL's actual realised coal costs. Heat-rate sources differ: the 2016 AEMO/Jacobs table shows 10.00 GJ/MWh sent-out, while later AEMO/IEEFA material shows about 9.4-9.45 GJ/MWh; the profile uses 9.45 GJ/MWh. Emissions intensity uses Clean Energy Regulator 2023-24 facility data for Bayswater. Asset life is inferred from commissioning in 1985 and AGL's target closure by end-2033. Major refurbishment/maintenance notes include the $150 million turbine efficiency upgrade, $63 million DCS project, $35.9 million environmental/ash/water upgrade approval, and $130 million 2025 major Bayswater outage.
Unit-specific BW04 construction capex was not found. The capex profile uses the reported June-1979 Bayswater first-stage estimate of AUD 590m for 2 x 660 MW plus associated coal and water supplies, converted to AUD/MW and allocated to the requested 685 MW unit; therefore capex_basis is estimated and nominal 1979 dollars are preserved. Fixed and variable O&M are from AEMO/Jacobs modelling assumptions for Bayswater and are not recent AGL reported actuals. Fuel cost per GJ is inferred from AGL FY25 portfolio coal fuel cost per MWh and AEMO heat rate, and should be reviewed against confidential coal contracts. Bayswater's targeted closure by end-2033 implies roughly 47-48 years from 1985-86 commissioning; AGL states the station will be approximately 50 years old by closure. Major refurbishment/upgrade notes include AUD 63m DCS/control-system works approved in 2016 and more than AUD 200m turbine efficiency/maintenance upgrade from 2018, intended to add 100 MW without additional coal consumption or emissions; AGL later reports 3 x 25 MW upgrades in its capacity metrics.