Energy Minister Eric Ripper has allowed the company to search the private sector for a partner willing to cough up $300 million to finance the gas-fired station, something the company has never done before, but is now necessary it ensure the plant's future.

The cash crisis is a result of the Gallop Government's cutbacks to ensure the state maintains its A credit rating. Any further state spending would put this in jeopardy.

Western Power will now be forced to push back the station's initial operating date from 2006. Fortunately this will give Western Power more time to secure the gas supplies it needs to fuel the station.

Currently the Dampier-to-Bunbury gas pipeline is running at full capacity and owner Epic Energy is refusing to expand it until the gas regulator allows it to charge a higher tariff.

Western Power had hoped to seal all agreements relating to the station six months ago.