Coal the loser as power prices smashed
Apr 28, 2021 – 12.01am
Share
Mushrooming rooftop solar and mild summer weather have driven demand for power from the grid to the lowest for 19 years for the peak summer quarter, cutting wholesale prices by up to 68 per cent and pushing major coal and gas power generators such as AGL Energy to the brink.
NSW, Victoria and South Australia all had record low demand for power from the centralised grid for the three months of the year when consumption is typically highest and prices the most volatile.
The installation of rooftop solar panels hit a fresh high for a March quarter of about 800 megawatts.
Power prices fall as mild summer, renewables reduce generation costs
brisbanetimes.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from brisbanetimes.com.au Daily Mail and Mail on Sunday newspapers.
Power prices fall as mild summer, renewables reduce generation costs
watoday.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from watoday.com.au Daily Mail and Mail on Sunday newspapers.
Power prices fall as mild summer, renewables reduce generation costs
theage.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theage.com.au Daily Mail and Mail on Sunday newspapers.
AGL demerger in doubt as investors query CEO exit
Apr 27, 2021 â 12.01am
Save
Share
The shock departure of Brett Redman as CEO of AGL Energy has fuelled speculation that the demerger plan he developed may have hit the rocks, with his exit giving space for top management to backtrack and adjust the strategy for the embattled electricity and gas supplier.
Investors and analysts are still struggling to understand the circumstances around last weekâs sudden exit of Mr Redman â the architect of the demerger plan â which has plunged the countryâs biggest electricity and gas retailer into crisis.
Some sources say that Mr Redman has effectively been pushed out of his job, despite the line spun by both him and the company last week. The board is said to have asked for a five-year commitment from Mr Redman to helm one of the demerged companies, knowing that he was unwilling to tie himself up for such a period of time as CEO of a smaller firm.