Departed Stanwell CEO a victim of climate and culture war politics
Richard Van Breda has been taken out just as the truth of the message about coal-fired power and renewable energy has been confirmed.
Apr 28, 2021 – 6.05pm
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The full truth of the departure of Richard Van Breda as chief executive of the Queensland government-owned Stanwell Corporation is yet to emerge. But he appears to have fallen victim one way or another to another outbreak of climate and culture war politics.
At a conference last week, Mr Van Breda raised the prospect of mothballing the Tarong North and Stanwell coal-fired power plants before the end of their technical lives, due to the influx of cheap renewables into the electricity grid that are driving down wholesale power prices.
Coal the loser as power prices smashed
Apr 28, 2021 – 12.01am
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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.
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Subscriber only Just days after energy giant Stanwell revealed its long-term plans to transition to renewable energy, CEO Richard Van Breda has announced he s stepping down from the top job. Independent Non-executive Chair and Director Paul Binsted revealed the shock decision in a statement released to the media today, thanking Mr Van Breda for 20 years of leadership within the Queensland energy sector. Richard has led Stanwell through many challenges since his 2012 appointment to the position of CEO, Mr Binsted said. Under his leadership Stanwell has consistently achieved a strong financial performance, earned the trust of its people and host communities, in both Rockhampton and the South Burnett and positioned itself as a key participant in the energy market of the future.
Mystery surrounds Stanwell CEOâs exit
What is it about CEOs of coal-fired power companies? Two days after Brett Redman resigned from AGL Energy, the CEO of Queenslandâs largest coal-fired power company also bailed.
Apr 27, 2021 â 12.00am
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Brett Redman was not the only chief executive of a major coal-fired power generation company to resign last week and leave a sense of mystery and intrigue.
The day after the AGL Energy board of directors revealed Redman was leaving immediately, the board of Queensland government-owned, coal-fired power generator Stanwell Corporation said it had âreluctantlyâ accepted the resignation of CEO Richard Van Breda.