Who Owns Australia's Coal Power Plants?

The News: Australia's Largest Coal Plant Just Got Extended

On 19 January 2026, Origin Energy announced that Eraring Power Station - Australia's largest coal-fired power plant - will operate until April 2029. That's a two-year extension from its previously scheduled August 2027 closure.

Origin CEO Frank Calabria said the decision "provides more time for renewables, storage and transmission projects to be delivered." The Australian Energy Market Operator (AEMO) had warned of potential grid reliability issues if Eraring closed on schedule.

This news prompted us to dig deeper: who actually owns Australia's coal power plants? The answer might surprise you.

Who Owns Australia's Coal Power Plants?

Australia's electricity market is dominated by four large "vertically integrated" companies. That means they both generate electricity (including from fossil fuels) and retail it to customers like you.

The Four Largest Retailers

Together, these four companies supply approximately 86% of gas retail customers and 77% of large business customers in Australia. About half of the national electricity grid is still powered by black coal.

Australia's Coal Power Plants

Notice that Queensland's coal plants are owned by state government corporations, not private retailers. In NSW and Victoria, the Big Three retailers dominate.

Interactive Retailer Ownership Map

Want to see the full picture? Our interactive map shows ownership for all major Australian energy retailers - who owns them, which country controls them, and their generation assets.

Follow the Money: Where Do These Companies Actually Make Profit?

Here's something most people don't realise: energy retail is a low-margin business. The real money is in generation and wholesale trading.

We reviewed the latest financial reports from all four major retailers. Here's what we found:

AGL and Origin are ASX-listed, so their financials are public. EnergyAustralia reports through parent company CLP Group (Hong Kong Stock Exchange), while Alinta publishes limited financials in their annual Sustainability Report.

The pattern is clear: AGL's CEO Damien Nicks told shareholders that their generation portfolio is a "material contributor to earnings". EnergyAustralia's 2024 turnaround (from loss to $153M profit) was explicitly attributed to generation performance. Even Alinta - which doesn't break out retail vs generation - is fundamentally a generation business with retail attached.

Origin's Regulatory Track Record

While we're talking about Origin - the company that just extended Australia's largest coal plant - it's worth noting their recent regulatory history. In 2024-2025, Origin was fined $29.6 million for breaching customer protection rules:

• $12 million (AER, 2024) - For over 5,000 breaches of life support customer obligations between February 2019 and September 2022. These rules exist to protect vulnerable customers who depend on electricity for medical equipment.
• $17.6 million (Victorian Supreme Court, March 2025) - For failing to provide hardship support to customers in financial difficulty and for non-compliant debt collection practices.

This isn't about vilifying one company - all large retailers have compliance issues. But if you're choosing a retailer based on values rather than just price, this context matters.

The "Green Plan" Problem

All four major retailers offer "green" or "carbon neutral" electricity plans. These sound great, but here's what they typically mean:

• Renewable Energy Certificates (RECs) are purchased to "match" your usage
• Carbon credits may be bought to "offset" emissions
• GreenPower accreditation means a portion comes from certified renewable sources

The problem? Your money still goes to the parent company. When you pay your bill to Origin's "green" plan, that revenue supports a company that just extended Australia's largest coal plant to 2029.

What This Means for Battery Buyers

If you're getting a home battery, you're already making a significant investment in reducing your carbon footprint and grid dependence. But here's the thing:

This is why we built our calculator to factor in both savings and retailer greenness. Getting a battery is a great opportunity to reconsider your entire energy setup - including who you buy from.

Three Things to Consider

1. Maximise self-consumption - The more solar you store and use yourself, the less you buy from anyone. A well-sized battery with good automation can get you to 80-90% self-sufficiency.
2. Check your retailer's generation mix - Not all retailers own coal plants. Some are "pure play" retailers that buy from the wholesale market, others focus exclusively on renewables.
3. Consider your VPP options - If you join a VPP, who's operating it? AGL and Origin both run VPP programs. Some battery owners prefer retailers like Amber Electric that give you direct wholesale market access without VPP control.

Your Options

Option 1: Stay and Maximise Self-Consumption

If switching retailers isn't a priority, focus on reducing your grid reliance as much as possible. A battery with smart automation, time-of-use optimisation, and good solar coverage can dramatically reduce what you buy from (or sell to) anyone.

Option 2: Switch to a Retailer Without Coal Generation

There are 141 authorised electricity retailers in Australia (87 with active plans). Not all of them own coal plants. Some are focused purely on renewables, some are smaller retailers buying from the wholesale market. The trade-off: they may have less competitive rates, less sophisticated apps, or limited service areas.

Option 3: Go Wholesale with Amber Electric

Amber passes through wholesale electricity prices directly. When there's lots of solar on the grid, prices go negative and you get paid to use power. When demand spikes, prices spike too. With a battery, you can arbitrage these swings. Some Amber customers earn $1,000+/year. Read our VPP guide for more on Amber vs traditional VPPs.

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