Australia's dirtiest coal-fired power plant, Hazelwood in Victoria's Latrobe Valley, will be decommissioned and closed by March of next year.  This impacts most of the plant's 750 workers, as only 250 would remain through 2023 to manage the site's rehabilitation.

The French energy company ENGIE says Hazelwood is no longer economically viable.  "ENGIE in Australia would need to invest many hundreds of millions of dollars to ensure viable and, most importantly, continued safe operation," said ENGIE's Chief Executive in Oz Alex Keisser.  "Given current and forecast market conditions, that level of investment cannot be justified."

Workers will receive their full entitlements, and the Commonwealth will offer a $43 million package for workers impacted by the closure.  "This will comprise $3 million for job active assistance, retraining, other financial services support for those affected workers," said Federal Energy Minister Josh Frydenberg.

The loss of Hazelwood could push household power bill up by four to eight percent, according to modelling released by the Victorian Government.