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Govt underwriting new Qld power station to keep prices down

The Morrison government will underwrite a new power station servicing Queensland and New South Wales under a plan set to be unveiled on Monday. The gas-fired plant at Gatton in South East Queensland is the first of a new generation series aimed at putting downward pressure on power prices. With an output of 132 megawatts, the plant is a small generator but will firm up renewable power and can be switched on with little notice during peak periods. The Federal Government is not funding the project, but underwriting its debt, with construction due to begin once private sector funding is secured. Image: Getty

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