AGL Energy may have rebuffed the proposed takeover from Atlassian founder Mike Cannon-Brookes and Canadian asset manager Brookfield earlier this year, but the audacious bid is still having big repercussions for Australia’s biggest electricity generator.

Weeks after Cannon-Brookes and his Grok Ventures changed tack and bought an 11 per cent stake in AGL to block the proposed demerger, AGL dumped its move to split into two companies: the coal power-focused Accel Energy and retailer AGL Australia.