Andrew Vesey, CEO of AGL made his attitude to new coal clear:
“It is very simple: We are overloading the atmosphere with heat-trapping gas and the rest is details,” Mr Vesey told an investor briefing in Sydney, where he again forcefully ruled out any investment in new coal-fired power.
He said there were two strategic imperatives that govern all AGL’s investments – affordability and the tenet that the future will be carbon-constrained, making new coal too risky as an investment.
AGL has confirmed its plans to close the Liddell coal generator in NSW and “replace it with 1.6GW of renewables, plus storage and other technologies – saying it was a smarter, cheaper, cleaner and more reliable option than keeping the ageing and unreliable coal plant open.” Continue reading AGL’s $1.36 billion plan to replace Liddell
1. Liddell to go
The die was cast at the AGL annual general meeting. Liddell will be closed and not sold.
Mr Vesey spent the bulk of his address explaining how AGL would replace the capacity lost at Liddell, including new wind and solar farms, up to 750 megawatts of new gas-fired plants and a 100-megawatt upgrade to the more modern and larger Bayswater coal plant nearby. A 250 MW battery at Liddell and demand response will also come into play, he said.
Continue reading Climate clippings 115: beyond coal
According to the AFR, AGL Energy faces “a huge daily challenge” just to keep its “geriatric” Liddell coal-fired power station running and will need to spend up to $150 million just to “keep our noses above water” until 2022. It will cost $900 million to keep it open for another 10 years, as Malcolm Turnbull and Josh Frydenberg would have it.
“It’s exceptionally challenging,” AGL Macquarie general manager Kate Coates told the group of press representatives and other interested persons on the tour on Tuesday. Continue reading AGL struggles daily to keep Liddell going, and looks to ‘flexible’ power
Last week ended with talk of breaking up AGL, along with experinced political journalist Philip Coorey saying:
It is becoming more apparent the government is as happy to have a fight as find a solution.
A fight over energy all the way to the next election could suit it very well, if the main priority is to “kill Bill”. What it says it wants is “dispatchable baseload”. Cheap dispatchable baseload, and for a sizable rump it must be with coal.
Of “dispatchable baseload”, Giles Parkinson asks is that a thing? Continue reading Does the Government want to solve the energy crisis?
According to Malcolm Farr, when the Finkel review appeared, this is what Malcolm Turnbull said about the Clean Energy Target:
“Well it would certainly work, there is no question it would work and we are looking at it, giving it very favourable consideration.”
Rafael Epstein interviewing Josh Frydenberg on RN Drive replayed Turnbull’s audio, saying also the CET had “strong virtues”. Continue reading Turnbull to walk away from the Clean Energy Target
Last week AEMO, the Australian Energy Market Operator produced two reports on future of electricity markets. The Coalition government under Turnbull cherry picked the reports in a way that was almost infantile, going completely feral, politicising the energy policy, making clear that bipartisanship will be avoided at all costs.
On Saturday at the Country Liberals annual conference in Darwin, he said this:
“I mean, Blackout Bill, fair dinkum, as my old dad would have said, he is so hopeless he could not find his backside with both hands.”
The electricity issue has been folded into his “kill Bill” strategy. Continue reading Turnbull goes feral on electricity
You guessed it, he chose the clapped out Liddell coal-fired power plant.
AEMO, the Australian Energy Market Operator, said New South Wales may be short of power when Liddell closes, as scheduled, in 2022, based on known plans and government policy positions, federal and state. AEMO had just published two documents – Electricity Statement of Opportunities for the National Electricity Market and Advice to Commonwealth Government on Dispatchable Capability. Apart from the risk of blackouts this coming summer in SA and Victoria, the next pressure point could be in 2022 in NSW with the closure of Liddell.
As David Blowers of the Grattan Institute said, the second report carried a clear message, though not stated directly – the system is broken a bipartisan clean energy policy is badly needed. Continue reading Turnbull’s choice – a clapped out coal burner or a clean energy plan