Tag: AGL

Climate Change

Oceans absorb 30% of our CO2 Emissions; Phytoplankton are Central to its Climate Impacts

In Australia, AGL is about to double it’s profit. The mega electricity and gas supplier delivered its upgraded full-year profit targets on Friday. AGL shares jumped more than 14 percent higher in early trade and closed at $10.60. Meanwhile, they continued to announce again and again their “plans” to replace their antiquated coal plants. These “announcements” have now spanned years of no action on the part of this giant Australian emitter of CO2. Gunna AGL is what it is all talk and no action.

The ocean holds 60 times more carbon than the atmosphere and absorbs almost 30% of carbon dioxide (CO₂) emissions from human activities. This means the ocean is key to understanding the global carbon cycle and thus our future climate.

Source: Oceans absorb 30% of our CO2 Emissions; Phytoplankton are Central to its Climate Impacts

Coal

AGL’s coal implosion shows what a disorderly transition to clean energy looks like | Australia news | The Guardian

AGL’s Loy Yang coal-fired power station in Victoria

The mess the LNP helped create and blamed others for.

What happens from here is unclear, but the company’s turmoil can’t be divorced from the Coalition’s policy failures

Source: AGL’s coal implosion shows what a disorderly transition to clean energy looks like | Australia news | The Guardian

Informed Comment

How Scott Morrison might junk the Cannon-Brookes and Brookfield mega-bid for AGL – Michael West Media

AGL

Morrison handballed the problem of Carbon Emissions to the “free market and new technology”. Now he hates what that market is actually doing. It’s ignoring him for having done nothing and moving in the opposite direction.

Will Scott Morrison’s government block the radical AGL takeover bid by Mike Cannon-Brookes and Brookfield? It’s a deal which accelerates Australia’s decarbonisation, creates jobs, cuts energy prices, and saves AGL shareholders from a slow death, but Morrison has two regulators who can still nix it. Michael West reports.

Source: How Scott Morrison might junk the Cannon-Brookes and Brookfield mega-bid for AGL – Michael West Media

Climate Change

Banks suspected in AGL’s climate foul play

What their boards pledge and what they actually do needs examination,and transparency because past behavior has shown just how corrupt they are. It seems the LNP put on some Royal Comissions for show then do the Morrison nothing.

Despite pledging support for climate action, it’s possible one of Australia’s big four banks is coming to the financial rescue of pollution giant AGL, writes David Ritter. A REAL-TIME “whodunnit?” is playing out across the Australian banking industry. At least one of Australia’s big four banks is considering loaning $800 million to the nation’s worst domestic climate polluter, AGL. The question is, who is involved? And why?

Source: Banks suspected in AGL’s climate foul play

Uncategorized

AGL takes Greenpeace to court over climate campaign

ENERGY GIANT AGL has launched legal action against environmental advocacy organisation Greenpeace Australia Pacific, following the launch of a Greenpeace campaign alleging AGL is Australia’s biggest corporate climate polluter.

Source: AGL takes Greenpeace to court over climate campaign

Coal

AGL is leading the way in harmful coal pollution
Not all they seem to be

AGL IS ONE OF Australia’s largest energy companies with a marketing budget to match, so that money can be chucked at everything from sports teams to community festivals. But all of the spin and sponsorship hides a grim truth. In the villainous league of Australia’s worst coal-burning polluters, AGL is the number one offender — literally, the worst of the worst.

AGL is leading the way in harmful coal pollution
Fossil fuels, Uncategorized

Norway’s giant oil fund ditches stake in Australia’s AGL over fossil fuel concerns | Australia news | The Guardian

AGL’s Liddell coal-fired power plant in New South Wales, Australia

via Norway’s giant oil fund ditches stake in Australia’s AGL over fossil fuel concerns | Australia news | The Guardian

Informed Comment

AEMO confirms that AGL’s plan for Liddell will eliminate energy shortfall – » The Australian Independent Media Network

In March 2018, the Australian Energy Market Operator (AEMO) sent Energy Minister Josh Frydenberg their assessment of whether AGL’s plan would meet our future energy needs.

AEMO’s analysis shows that an additional 850 MWs of resource capability are required to ensure reliability in NSW following the closure of Liddell. If all three stages of the AGL plan are completed, the resource gap will be eliminated.

In its current state, Liddell is more likely to be the cause of a power emergency because of what AEMO describes as the potential for ageing coal generators to fail in the heat – during the 2016-17 summer heatwave, Liddell was missing 1,000MW of its capacity due to problems with boiler tube leaks.

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via AEMO confirms that AGL’s plan for Liddell will eliminate energy shortfall – » The Australian Independent Media Network

Coal

The ACCC and Liddell: Just opinion and no facts

The Government and the ACCC

the confident assertions on the Liddell Power Station by the ACCC Chairman Rod Sims remind me of the surgeon having completed a brilliant operation to save the sight of an elderly patient — he removes his mask, smiles and acknowledges the admiration of his team when a junior nurse puts up her hand and says rather apologetically, “But Sir, the patient has died”.

There are economists on the ACCC Board who would have been expected to review the full life-cycle costs of coal before Mr Sims made his statement. Did they ignore or were they unaware of the work of eminent Yale economist William Nordhaus? Nordhaus demonstrated, using full cost accounting of all externalities, that coal now has no value to the community — work confirmed by other groups of economists.

Indeed coal is the most expensive energy modality apart from nuclear energy. It requires exceedingly good discipline by the government to do a “John Cleese” and not “mention the war” – the war being the word “health” – for to do so would undermine the ideology that coal is “good for humanity“.

via The ACCC and Liddell: Just opinion and no facts

LNP Tactics

Liddell power station: AGL wants ‘greater degree of certainty’ around energy policy – ABC News (Australian Broadcasting Corporation)

The energy giant AGL is continuing to push back against Federal Government pressure to keep its Liddell power station open beyond 2022.

Source: Liddell power station: AGL wants ‘greater degree of certainty’ around energy policy – ABC News (Australian Broadcasting Corporation)