Noosa News
Energy cash cows running dry as green deals leave $2 billion hole in AGL profits
Thursday February 04, 2021
Auditor-General Brendan Worrall has highlighted how state-owned power corporations – long a cash cow for the Queensland treasurer – are under increasing pressure from green energy reforms. So, too, is the private sector.
AGL will take a hit against its profit because of bad wind farm contracts.
Power company AGL today revealed a $2.68 billion hit to its net profits, relating mostly to renewable energy and environmental provisions. Deals struck between 2006 and 2012 to take power from wind farms, at a price far higher than today’s prices, delivered a…
-
General17 hours agoAmbulance response times sluggish despite Tasmanian ramping ‘ban’ promise
-
General22 hours agoEnergy chiefs say net zero ‘irreversible’ even though bills unlikely to fall ‘for a decade’
-
Business13 hours agoWhat it means for shareholders
-
Business15 hours agoUp 48% in a month, can Domino’s Pizza shares keep the momentum going?