Summaries - Australian Financial Review
Friday 16/1/2009 Page: 13
British energy company BG Group has cancelled plans to build a $750 million gas-fired power plant in NSW's Hunter Valley region. The project would have created around 3 percent of the states current electricity capacity, and the National Electricity Market Management Company projects a power reserve shortfall in NSW by 2014-15. The NSW Business Chamber said the decision posed a risk to the state's medium-term electricity supply as it would take at least six years to gain approval and build another plant. NSW Energy Minister Ian McDonald blamed the global financial crisis for BG Group's decision to shelve the project.
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