Former AGL chief Andy Vesey tapped for PG&E leadership role

Former AGL boss Andy Vesey has taken on his first role since being culled by the power giant’s board.

Former AGL chief executive Andy Vesey. Picture: Mark Cranitch.

Former AGL Energy boss Andy Vesey has taken on his first role since being culled by the power giant’s board. A year after leaving AGL, Mr Vesey was named overnight as chief executive of Pacific Gas and Electric Company, a unit of the $US9 billion New York-listed PG&E Corporation after the role had been vacant for a year.

Among his responsibilities will be oversight of the Diablo Canyon nuclear power plant, California’s last nuclear reactor, which is set to close in 2025 amid a debate in the state over a transition to renewable energy.

PG&E is also working through a corporate restructure. It filed for bankruptcy in January after facing huge liabilities from deadly Californian wildfires which authorities blamed on PG&E electricity transmission lines and will emerge from Chapter 11 protection by May 1.

Mr Vesey is best remembered in Australia for refusing to back down over demands made by Malcolm Turnbull to either extend the life of the Liddell coal plant in NSW or sell to another bidder.

Instead, he proposed a mix of renewables, storage and gas to replace the lost capacity which AGL continues to pursue.

AGL chief executive Brett Redman ceded some ground on Liddell this month by delaying its exit by a year until 2023 but the government continues to agitate for options to lengthen its life citing concerns over supply shortfalls.

Suitors including Alinta Energy and power maverick Trevor St Baker have indicated their interest in buying the ageing plant.