Six Victorian coal-fired power generators will get the bulk of $1 billion of Federal Government funding aimed at helping them deal with the introduction of the carbon tax.
Hazelwood Power Station in the Latrobe Valley will get the largest payment of around $266 million this year.
Yallourn Power Station and Loy Yang A will get almost the same amount.
Loy Yang B will be given around $117 million this year.
Alcoa Anglesea and Energy Brix will get much smaller payments.
The conservation group Environment Victoria has criticised the payments.
Spokeswoman Kelly O'Shanassy says the carbon tax was intended to reduce emissions from coal fired power generators.
"Then the same Government provides subsidies to keep those power stations going," she said.
"We've just simply got to recognise that Hazelwood and other brown coal power stations are highly polluting.
"They need to be replaced with clean energy sources and the quicker that happens the safer our future will be."
But the owner of the Hazelwood and Loy Yang B power stations has defended the compensation package.
International Power-GDF SUEZ Australia says the money provides some level of compensation for the impact of a carbon tax although it is significantly less than the actual impact on its business.
It says "compensation through the Energy Security Fund is essential to ensure investors do not lose faith in the Australian energy market and to ensure the secure operation of the national electricity market."