Power price cut ‘risks profit’ of big providers
The Australian Energy Regulator Australians is delivering relief to consumers’ electricity bills but it will come at a cost to the profits of Origin and AGL, and dent competition, say experts.
The Australian Energy Regulator Australians is delivering relief to consumers’ electricity bills but it will come at a cost to the profits of Origin and AGL, and dent competition, say experts.
Bullock says ‘the war isn’t yet won’ on inflation, RBA ‘not ruling anything in or out’. Dollar falls. Telstra hit with two-hour outage. Bank of Japan’s first hike in 17 years. Takeover targets Pacific Smiles, Boral gain.
Australia’s biggest electricity generator has slammed a nuclear push by the Opposition, ruling out the technology in a move that may sideline a plan to station a reactor in the Latrobe Valley.
ASX down 2.3 per cent this week. AGL slams nuclear debate as muddying landscape. ASIC concerned by Westpac process. Tabcorp CEO’s comment was about female regulator. ARN Media lifts Southern Cross bid.
AGL has finalised plans to construct a 2GW renewable energy development as its transition plans accelerate.
A scheme allowing state governments to delay the closure of coal-fired power stations would complicate the country’s energy transition, AGL Energy has warned.
Victorian Energy Minister Lily D’Ambrosio has refused to provide any details of who the “experts” will be, nor confirm whether they have yet been appointed.
Some 55,000 Victorian households remain disconnected from the state’s electricity grid more than two days after wild weather downed transmission towers and power lines.
AGL says Victoria’s largest coal-fired power station will resume operating today, although tens of thousands may have to wait weeks for power to be fully restored.
AGL Energy will restore full operations at its Loy Yang coal power station within 24 hours, however many Victorians could be left without power for ‘days, if not weeks’.
AGL’s new battery at Torrens Island has gone live, and can store enough electricity to power 75,000 homes for one hour.
The Andrews government has struck a deal with AGL Energy to manage the retirement of the Loy Yang coal power station.
Extraordinary numbers are really just ordinary. But chief executives have to start refining the message about the purpose of profits.
The nine-year extension of AGL’s existing contract secures half the energy needs of the Portland aluminium smelter but Alcoa will still need to source the rest of its supply after 2026.
AGL Energy will offer customers who own an electric vehicle cheaper overnight charging, as it hopes to tap into the growing market.
AGL Energy has dropped membership of two lobby groups, including a major fossil fuel advocate, as the power giant reworks its image to hit ambitious green goals this decade.
Atlassian co-founder Mike Cannon-Brookes did not mince his words when asked about Australia’s largest energy company.
Mike Cannon-Brookes has hit out at the energy company he has invested $700m in, describing it as ‘one of the most toxic companies on the planet’.
Bourse sees small weekly gain. Star rockets on NSW tax deal. Iron ore flat amid Chinese property woes. Dollar set for a fourth weekly loss. Cettire CEO’s $100m selldown.
AGL Energy believes power prices will remain at high levels over the next two years as the industry grapples with a shift to renewables.
Original URL: https://www.theaustralian.com.au/topics/agl-energy/page/2