Australia’s largest electricity user, the Tomago aluminium smelter in NSW, says it won’t be renewing its coal fired electricity contract with AGL after 2028 because it will be switching to renewables to power the smelter. This is the same Tomago smelter that had been leaning on AGL and the Federal Government to extend the life …
In May the International Energy Agency released a roadmap to net zero emissions by 2050 for the global energy sector. It is, by any measure, a massive undertaking to forecast or plan energy market trends five years into the future, let alone 30 years. A zero emissions roadmap by 2050 is, by necessity, filled with …
The global inequity of corporate climate activism Read More »
AGL CEO Brett Redman has resigned “suddenly” in a turbulent week for Australia’s biggest energy company. He was immediately replaced by Chair Graeme Hunt who will manage the business until it reaches its as yet unspecified demerger date some time in 2022. That’s when AGL plans to split into two separate businesses: a retailer with supporting technology …
Australia’s two large, listed electricity gentailers have recently delivered some bad news to their shareholders. AGL announced a massive write-down of $2.7bn ahead of their half year results, while Origin warned of lower profits than expected. As usual these announcements serve as a Rorschach test. At least one commenter sees them as a kind of …
Fortescue Metals is apparently about to transition into an energy business. Or maybe a steel business. Or a technology company. Or all of the above. That’s according to its Chairman Andrew Forrest who kindly telegraphed Fortescue’s seismic shift in corporate strategy at a recent public lecture. Companies are normally relatively discrete about how and where …
