The Hazelwood Power Station in the Latrobe Valley produced a record amount of energy last year.
In its full year financial results for 2011, International Power Hazelwood reveals the power station generated a record amount of electricity last year, despite one of its units being offline for half the year.
The company has also reiterated that it does not expect to make major losses when the carbon tax is introduced and in the first instance, the tax will be cash flow positive.
International Power says it is still negotiating with the Federal Government about compensation for closure.
The nearby Yallourn and Energy Brix power stations are also part of the contract for closure discussions.
The Government intends to decide which power stations will close by the middle of the year.