The Australian Fake Free market is so screwed. What asset is worth more in the trash-can than sold to a willing bidder?
Everyone is talking about Liddell. The old coal plant is on the chopping black in 2022 and we can see the electricity price rise coming from here.
People in Australia are going without their veges to pay for electricity. Liddell coal plant makes cheap electricity (like old coal plants everywhere). This is a problem that would solve itself if not for Malcolm Turnbull, the RET, and the AEMO. It takes a lot of money and whole fleets of bureucrats to stop the free market fixing this by default.
AGL is the largest coal fired producer in Australia, but it’s also the largest generator in toto and the largest investor in renewable energy on the Australian Stock Exchange. Spot the conflict of interest? The company controls 30% of the generation in our two largest states, and 40% in South Australia. The man in charge of AGL – Andy Vesey – formerly of New York, earns $6.9 million and can probably afford to pay his own electricity bill. But as Tony Cox points out, he has surrounded himself with Gore-trainees […]
April 6, 2018 at 05:13AM