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Tim Buckley

Big super’s foiling of Brookfield’s Origin bid a win for petrostate of old

The spotlight is now on AustralianSuper to step up and provide a superior Australian new zero-emissions capacity and firming solution.

Tim BuckleyClean energy advocate

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After Origin Energy shareholders voted 67 per cent in favour of the Brookfield/EIG bid on Monday, falling short of the requisite 75 per cent approval, and with the Origin board already having rejected the conditional plan B offer, Brookfield might just walk away.

AustralianSuper, which has vociferously opposed this acquisition, seems content to hide behind the superannuation “sole purpose” test, apparently looking to maximise near-term profits while undermining the national interest by blocking a landmark capital injection to accelerate renewables deployment that would help solve the energy, cost of living and climate crisis trilemma hammering Australians.

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    Original URL: https://www.afr.com/companies/energy/keating-s-attack-on-origin-bid-ties-big-super-to-australia-s-petrostate-of-old-20231203-p5eoko