But history says there is a new set of faults around the corner. Aged power plants are similar to aging humans: we tend to have more problems as we age, not less.
Thus, as APA Group CEO Rob Wheals said earlier this tumultuous week, this crisis must be the spark for developing a sensible, practical and long-term national energy plan.
Start planning now
The 30 percent reduction in coal capacity we are currently experiencing will come back, probably long before we want it to.
And we really want to get to the point of not having coal generation as soon as possible. So let’s start planning it in a way that balances emissions, reliability, and affordability.
As local Chevron chief Mark Hatfield said at the Credit Suisse Australia energy conference on Tuesday, we need to find solutions that take into account the three challenges, especially, as Wheals says, if we want to avoid losing the mandate among consumers. for the urgent energy transition we need. .
AGL also announced Friday that client director Christine Corbett will leave the group. He would have run the retail business, AGL Australia, if the group’s spin-off plan had gone ahead.
AGL can’t afford to lose more people as its chairman Peter Botten, CEO Graeme Hunt and two board members announced their departure after tech billionaire Mike Cannon-Brookes toppled the split last week .
But a central principle of Cannon-Brookes’ argument against division was that coal-fired power plants would struggle to stand on their own given the capital needed to deal with reliability issues.
The billionaire fell silent on Twitter on Friday morning, but it’s hard to say he was wrong.
More information on the AGL crisis
- “The Big Unlock”: Grok’s vision for future AGL CEO Jeremy Kwong-Law outlined a vision for AGL’s future ahead of the private equity fund’s first meeting with the AGL board energy operator since the collapse of the split.
- Behind the mysterious British firm that pursued AGL, is it a green front? Is it a short seller? Led by twin brothers in their twenties in the hipster fringe of London’s financial district, Snowcap Research’s goal is to turn environmental, social and government investment upside down.
- How the AGL Became a Warning Story An AGL without direction could not have come at a worse time, as companies are struggling to transition to clean energy amid rising energy prices. gas and raw materials.
- Cannon-Brookes is the new king of acquisition The implosion of AGL Energy’s governing structure has paved the way for the co-founder of Atlassian to control his future.