Surging electricity prices and Australia’s patchy energy transition are prompting the country’s biggest cement,concrete and asphalt producer to temporarily halt manufacturing each day.
Before Mike Cannon-Brookes’ intervention,AGL had planned to continue burning coal at some of Australia’s largest power stations until well in the 2040s.
The power giant has swung to a heavy loss after a chaotic 12 months for the east-coast energy market,but flags better times ahead as electricity prices rise.
The owner of one of the largest coal-fired power stations in NSW may delay its closure amid concerns about the slow rollout of clean energy across the grid.
Australia’s biggest power generator has admitted failing to provide critical services from two of its coal-fired power stations in Victoria and NSW.
By doing the bill “squirrel”,you can use your bill money to also save you loan interest,rather than big energy companies using it to ratchet up profits.
Mike Cannon-Brookes has thrown support behind AGL’s increased carbon ambitions but intends to ramp up engagement and press for earlier coal plant closures.
AGL is confident the bumpiest year of the green energy transition is now behind it as higher wholesale power prices help it return to profit.
Wood,an ALP member with stints at Uber and News Corp,brings some fresh ideological diversity to Hockey’s booming advisory firm Bondi Partners.
Incitec Pivot has stitched up a gas supply deal that will allow it to opt out of the volatile east coast gas market.
Power giant AGL has taken a major coal-fired unit offline for $92 million of maintenance to minimise the risk of faults crimping supply and straining the grid.