Callide Power Trading operates as part of a joint venture between the Queensland government-owned CS Energy and the private company IG Power, which is currently under administration.

On May 25, 2021, a catastrophic generator explosion at the Callide coal-fired power station in central Queensland caused significant damage to the Callide C turbine hall.

This explosion was the result of a series of failures during a battery charger replacement, which led to a reverse flow of power that caused the turbine to spin uncontrollably.

As a consequence of the explosion, the loss of electricity generation overloaded interstate powerlines, leading to blackouts affecting approximately half a million homes and businesses in Queensland and New South Wales.

The force of the explosion was immense, tearing the rotor shaft apart at nine locations and launching a piece weighing over two tonnes across the turbine hall.

The fallout from this incident included damage to valuable equipment, potential loss of life, and significant long-term impacts on the National Electricity Market.

Federal Court Justice Sarah Derrington ruled that Callide Power Trading violated the National Electricity Rules by failing to maintain necessary redundancy and protection systems during the replacement process.

Justice Derrington determined that serious procedural breaches resulted in the catastrophic failure and destruction of major infrastructure.

In February 2024, the Australian Energy Regulator (AER) initiated legal action against Callide Power Trading Pty Ltd for failing to meet performance standards for Callide C.

As a result of these failures, the company has been fined $9 million and ordered to pay an additional $150,000 in legal costs.