, they will shut down the company’s entire coal fleet by the end of the decade.
The Cannon-Brookes/Brookfield plans to close down its coal fleet by 2030 would be a game changer for Australia’s energy grid because it wouldAGL’s plans are a more business as usual approach of slowly weaning Australia off coal-fired power. The key factor for both scenarios is making sure there is enough reliable generation to replace the thousands of megawatts leaving the grid and keeping electricity prices low.
They simply can’t compete with the flood of cheap renewables during the day and are becoming more unreliable as their enter their fourth and fifth decade of operation. “Driving out dispatchable capacity is a significant risk to electricity consumers – both in terms of reliability of the grid and electricity price impacts,” he said.
He said energy regulators, such as AEMO, the Australian Energy Regulator, the Australian Energy Market Commission and state and federal ministers, are already grappling with updating the NEM design to reflect this new reality.
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Atlassian cofounder responds after AGL rejects his and Brookfield's $8 billion takeover bidBillionaire co-founder of software company Atlassian, Mike Cannon Brookes, says he will continue to work with the board of energy giant AGL to pursue a takeover that would help Australia have the 'lowest-priced energy electricity in the world'. Why on earth do you keep giving Bruce Mountain a take? He literally just regurgitates and plagiarises other economist’s views … total lack of insight AGL will accept. The Industry Super fund shareholders will force it. If I'm a shareholder, I want the board outed. Will go down as a monumentally dumb corporate decisions. Sell your shares.
Source: abcnews - 🏆 5. / 83 Read more »
Three megatrends collide in Cannon-Brookes, Brookfield’s AGL bidThe speed of the energy transition, the rise and rise of private capital and the emergence of billionaire activists are all at play in the bid for AGL. And blows up ScottyFromWelding ‘s energy and climate policy. yeap took my house of the grid, on VPP originenergy ... plenty of COAL left for SCOMO If MCB runs AGL like Atlassian , AGL will declare a $b+ loss and its stock value will go up. AGL will not have to pay tax for decades
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Brookfield, Cannon-Brookes launch bid for AGL to ‘accelerate coal exit’Tech billionaire Mike Cannon-Brookes and Canadian fund manager Brookfield have launched a bid to take over Australian energy giant AGL and close its coal power plants sooner | Exclusive by NickToscano1 NickToscano1 The sooner the better ClimateAction NickToscano1 Wow! NickToscano1 Brilliant idea! And I the process show Australia that we DON’T NEED fossil fuels!! 👍🏼🇦🇺🔋
Source: theage - 🏆 8. / 77 Read more »
AGL dismisses Cannon-Brookes, Brookfield bidAGL Energy has summarily dismissed a takeover proposal from Atlassian billionaire Mike Cannon-Brookes and Canadian asset manager Brookfield. I doubt that seeing as it currently is responsible for spewing out 8% of Australia’s greenhouse emissions.
Source: FinancialReview - 🏆 2. / 90 Read more »