CS Energy
CS Energy is a Queensland Government-owned electricity generator and retailer operating coal, gas, wind, and battery storage assets across Queensland, selling wholesale power into the NEM and retail energy to large commercial and industrial customers.
- Company typePrivate
- Founded2004
- HeadquartersBowen, Australia
- Headcount251–500
- GTM typeB2B
- OfferingServices
What CS Energy does
CS Energy Ltd is a Queensland Government-owned corporation that generates and sells electricity in Australia's National Electricity Market (NEM), with operations concentrated in Queensland. The company's diversified generation portfolio includes coal-fired baseload assets (Kogan Creek Power Station, wholly owned; Callide B, wholly owned; Callide C, 50/50 joint venture with IG Power and operated by CS Energy), grid-scale battery storage (Chinchilla Battery and Greenbank Battery), and wind generation under construction (Boulder Creek Wind Farm as a 50/50 JV with Aula Energy, plus the Lotus Creek Wind Farm). It is also developing the 400 MW Brigalow Peaking Power Plant, a gas-fired facility adjacent to Kogan Creek scheduled for 2029 operation, and operates smaller solar assets at Columboola, Hughenden, and Moura.
CS Energy earns revenue through three primary streams: wholesale electricity sales into the NEM via Callide Power Trading Pty Ltd as the registered market participant; retail energy supply to large commercial and industrial customers in Queensland (directly and through a retail joint venture with Alinta Energy); and long-term renewable offtake arrangements where CS Energy holds 100% of generation output from its wind farm JVs via 20-year PPAs. The go-to-market motion is direct enterprise sales targeting large Queensland organisations rather than residential or small business segments, with bespoke quotes and customised energy solutions as the standard commercial model. Notable contracts include a 7-year agreement with Queensland Airports Limited supplying 30 GWh annually to Gold Coast and Townsville airports and a 20-year PPA on Boulder Creek output.
CS Energy has faced material operational, legal, and governance headwinds. Three equipment failures at Callide C (the 2021 C4 turbine explosion, 2022 C3 cooling tower collapse, and April 2025 boiler explosion) collectively caused more than 1,700 days of lost generation and triggered a $1 billion lawsuit from JV partner Sev.en Global Investments, an AER civil proceeding against Callide Power Trading, and the appointment of voluntary administrators to IG Energy Group entities. Both of CS Energy's most recent CEOs (Darren Busine, April 2025; Brian Gillespie, March 2026) have resigned, the Brady Report flagged cultural problems, and the Queensland Government is exploring external capital through Queensland Investment Corporation market sounding. The corporate office relocated to Fortitude Valley, Brisbane in April 2023.
CS Energy firmographics
Firmographics- Name
- CS Energy
- Legal name
- CS Energy Ltd
- Website
- https://csenergy.com.au
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- CS Energy is a Queensland Government-owned electricity generator and retailer operating coal, gas, wind, and battery storage assets across Queensland, selling wholesale power into the NEM and retail energy to large commercial and industrial customers.
- Ownership category
- akta.pro rank
CS Energy industry classification
Industry- Product category
- Electricity Generation
- NAICS
- Electric Power Generation (22111), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991), Engines & Turbines (3510)
- akta.pro primary industry
- Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ)
- akta.pro secondary industries
- Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management) (EUAMAHAI), DR Aggregators & Retail Curtailment Service Providers (CSPs) (EUAFAGAG)
Keywords
Where CS Energy is headquartered
LocationHeadquarters
- HQ city
- Bowen
- HQ country
- Australia
- HQ region
- Oceania
Offices5 records
Markets served
CS Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Wholesale Electricity Generation: CS Energy generates electricity from its portfolio of coal-fired (Kogan Creek, Callide B), gas-fired (Brigalow Peaking Power Plant under development), and renewable assets (wind farms, solar farms). Revenue is earned through the National Electricity Market (NEM) by selling generation output into the wholesale market, with Callide Power Trading (50% owned) acting as the registered market participant.
- Retail Energy for Large Users: CS Energy provides customised retail energy solutions to Queensland's large commercial and industrial organisations. CS Energy also holds a retail joint venture with Alinta Energy for serving retail energy customers.
- Renewable Energy Offtake Agreements: CS Energy enters into long-term Power Purchase Agreements (PPAs) to offtake renewable generation from wind farms and solar farms, which it then on-sells to retail customers and large organisations seeking renewable energy.
- Battery Storage Services: CS Energy operates grid-scale battery storage assets (Chinchilla Battery, Greenbank Battery) providing firming and storage services into the NEM, earning revenue through grid services and energy trading.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Standard Retail Contract / Small Market Standing Offer for small customers (regulatory obligation only) |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels7 records
CS Energy product offering
Product offeringCore offering
CS Energy is a Queensland Government-owned electricity generator and retailer that operates a diversified portfolio of coal-fired power stations, gas-fired peaking plants, wind and solar farms, and grid-scale battery storage assets. It sells electricity into the National Electricity Market through Callide Power Trading and provides customised retail energy solutions and renewable energy offtake agreements to large commercial and industrial customers in Queensland.
Product overview
CS Energy is a Queensland Government-owned energy company operating a diversified portfolio of power generation assets. The company operates coal-fired power stations (Kogan Creek and Callide), battery storage facilities (Chinchilla and Greenbank), and is developing gas-fired peaking generation (Brigalow). CS Energy has expanded into renewable energy through wind farm partnerships (Boulder Creek, Lotus Creek) and solar projects. The company also provides retail energy solutions for large commercial and industrial customers through direct services and joint ventures. The portfolio is structured around thermal generation for baseload capacity, firming/storage assets for grid stability, and renewable energy for the energy transition.
Differentiator
Problem solved
Functional benefit
Products and services
- Retail Energy Solutions for Large Users Customised retail electricity supply and account management for Queensland's large commercial and industrial organisations. Customers obtain quotes via a dedicated process and are served by CS Energy's retail business team; the company does not sell to small businesses or residential households.
- Wholesale Electricity Generation (National Electricity Market) Wholesale sale of electricity generated from CS Energy's portfolio of coal, gas, wind, solar and battery assets into the National Electricity Market, with Callide Power Trading Pty Ltd acting as registered market participant for Callide C under the National Electricity Rules.
- Renewable Energy Offtake (Power Purchase Agreements) Long-term Power Purchase Agreements under which CS Energy contracts for renewable energy output from wind and solar projects and on-sells that renewable energy to large customers. Examples include a 20-year PPA for 100% of output from Boulder Creek Wind Farm (228 MW) and a 7-year renewable supply agreement with Queensland Airports Limited covering 30 GWh per year from January 2025.
- Battery Storage and Firming Services Grid-scale battery storage services from Chinchilla Battery (Western Downs) and Greenbank Battery (Logan City), providing firming and storage capacity for the Queensland energy network and supporting integration of intermittent renewables.
- Alinta Energy Retail Joint Venture Retail energy joint venture partnership with Alinta Energy through which CS Energy reaches retail energy customers in Queensland, complementing its direct enterprise retail business.
Quantifiable outcome
- 95%+ average availability achieved across portfolio during Q1 2026
- +3 more outcomes
Companies that use CS Energy
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles2 records
CS Energy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
CS Energy partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered major, core and supporting.
- Monadelphous (ASX: MND)majorCS Energy awarded Monadelphous a $380 million contract to carry out the Balance of Plant works for the Brigalow Peaking Power Plant. The contract covers civil and mechanical works, piping, and installation of 12 GE Vernova LM2500XPRESS gas turbines.
- APA GroupcoreAPA Group partnered with CS Energy to develop the 400-megawatt Brigalow Peaking Power Plant in Queensland, part of APA's $3 billion organic growth pipeline for FY2026-2028.
- APA GroupcoreCS Energy entered into a Joint Development Agreement with APA Group to deliver the Brigalow Peaking Power Plant. APA will contribute project funding and supply capability. Under the agreement, APA will deliver a ~23km natural gas pipeline connecting the power plant to APA's Roma to Brisbane Pipeline. CS Energy will operate and maintain the power plant and retain 20% ownership; APA's 80% share is contracted to CS Energy under a 25-year hedge offtake agreement.
- Senex EnergycoreCS Energy and Senex Energy signed a ten-year gas supply agreement to fuel the Brigalow Peaking Power Plant. Senex will supply up to 58.4 petajoules of natural gas from its Atlas development near Wandoan in Queensland's Surat Basin.
- Queensland Airports Limited (QAL)majorCS Energy and Queensland Airports Limited signed a seven-year agreement (effective January 2025, running to December 2031) to power Gold Coast and Townsville airports with 100% renewable energy. CS Energy supplies 30 GWh annually from regional Queensland renewable projects, helping QAL achieve Net Zero 2030 targets.
- Aula EnergycoreCS Energy and Aula Energy reached financial close on the Boulder Creek Wind Farm (~$740 million project, 228 MW, 38 GE Vernova turbines). CS Energy holds 50% in JV with Aula Energy and holds rights to 100% of generation output through a 20-year Power Purchase Agreement. Four major contractors: GE Vernova (turbines), DT Infrastructure (civil works), Powerlink Queensland (grid connection), and RES (construction oversight).
- GE VernovamajorGE Vernova supplies and installs 38 wind turbines for Boulder Creek Wind Farm. GE Vernova also supplies LM2500XPRESS aeroderivative turbines for the Brigalow Peaking Power Plant.
- DT InfrastructuremajorDT Infrastructure is developing critical infrastructure for Boulder Creek Wind Farm including roads, hardstands, foundations, and onsite power assets.
- Powerlink QueenslandmajorPowerlink Queensland delivers grid connection assets for Boulder Creek Wind Farm.
- RES GroupmajorRES manages major contracts and oversees construction activities for Boulder Creek Wind Farm.
- Alinta EnergycoreCS Energy holds a retail joint venture with Alinta Energy for serving retail energy customers in Queensland.
- Ashurst (Law Firm)supportingAshurst law firm provided comprehensive multidisciplinary support to CS Energy following a significant ransomware attack, including legal response, crisis management, regulatory compliance review under the Security of Critical Infrastructure Act, IT vendor replacement, and cyber insurance claims management.
Scale indicators15 records
Recent moves7 records
Expansion highlights5 records
CS Energy competitors and assessment
Company assessmentDirect peers
- APA Group: CS Energy's 80/20 partner in the 400 MW Brigalow peaking plant and operator of the gas pipeline infrastructure; directly comparable as a Queensland energy infrastructure partner with $3B organic growth pipeline including gas-fired generation.
- Stanwell Corporation: Queensland Government-owned generator operating coal, gas and hydro assets and selling into the NEM; the closest structural peer to CS Energy as the other state-owned commercialised energy corporation under the same Queensland policy regime.
- Alinta Energy: CS Energy's retail joint venture partner for serving Queensland C&I customers; operates merchant generation and retail in the NEM under a comparable integrated model.
Broad incumbents
- Origin Energy: Major Australian integrated energy generator-retailer with coal, gas, wind, solar and battery assets supplying the NEM and large C&I customers; overlap with CS Energy's coal baseload, renewable build-out and C&I retail.
- EnergyAustralia: One of Australia's largest NEM generators and retailers, operating coal, gas, wind and battery assets; comparable in generation portfolio, NEM wholesale exposure and C&I retail offering.
- AGL Energy: Australia's largest private electricity generator and retailer, with coal, gas, wind, solar and battery assets across the NEM and an enterprise retail business serving large C&I customers — directly comparable in asset mix, customer base and NEM market exposure.
- Snowy Hydro: Australian Government-owned generator-retailer operating hydro, gas and contracted renewable capacity; structurally similar to CS Energy as a government-backed integrated energy provider participating in NEM wholesale and retail markets.
- Meridian Energy: New Zealand state-owned generator-retailer with hydro and wind assets and large C&I retail — comparable as a government-owned integrated renewable-led utility.
Emerging players
- Tilt Renewables: Australian renewable developer with utility-scale wind and solar projects; comparable on the wind/solar development, PPA structure and grid-connection dimensions of CS Energy's Boulder Creek and Lotus Creek portfolio.
- Genex Power: Australian renewable and battery storage developer with NEM-connected assets including pumped hydro and BESS; comparable to CS Energy on the battery/firming storage and renewable PPA dimensions of its Chinchilla and Greenbank strategy.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
CS Energy social profiles
Digital presenceCS Energy compliance and trust
Trust signalCompliance4 records
CS Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
CS Energy leadership team
Management profileNumber of profiles
Profiles1 record
CS Energy subsidiaries and ownership
Company hierarchySubsidiaries2 records
CS Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CS Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CS Energy
What does CS Energy do?
CS Energy is a Queensland Government-owned electricity generator and retailer that operates a diversified portfolio of coal-fired power stations, gas-fired peaking plants, wind and solar farms, and grid-scale battery storage assets. It sells electricity into the National Electricity Market through Callide Power Trading and provides customised retail energy solutions and renewable energy offtake agreements to large commercial and industrial customers in Queensland.
Is CS Energy a public or private company?
CS Energy is a private company. It is classified as state government owned and is currently operating.
When was CS Energy founded?
CS Energy was founded in 2004. It employs 251 to 500 people.
Where is CS Energy based?
CS Energy is headquartered in Bowen, Australia, in the Oceania region.
How does CS Energy make money?
Four revenue lines are on record. Wholesale Electricity Generation is the primary driver. The others are retail Energy for Large Users, renewable Energy Offtake Agreements and battery Storage Services.
Who are CS Energy's main competitors?
Direct peers on record are APA Group, Stanwell Corporation and Alinta Energy. Broad incumbents are Origin Energy, EnergyAustralia, AGL Energy, Snowy Hydro and Meridian Energy. Emerging players are Tilt Renewables and Genex Power.
Does CS Energy have an API?
No public API is recorded for CS Energy.
What industry is CS Energy in?
CS Energy's product category is Electricity Generation. Its primary akta.pro industry code is EUAMABAJ, Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization), with a secondary code of EUAMAHAI, Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management). Its NAICS code is 22111 and its SIC code is 4911.