Business
AGL promises urgent rethink as batteries, EVs “take off” and coal profits sink – RenewEconomy
AGL promises a rethink in strategy as demand for battery storage and EVs “takes off” and as the outlook for coal generation dims.
AGL says it will urgently rewrite its business strategy after rapid market change forced it to announce a massive loss in the December half, and as demand for home batteries, remote storage and electric vehicles is starting to “take off.”
CEO Brett Redman said the company had been banking on a slower transition to renewables and so-called “behind the meter” technologies, such as batteries and EVs, but now admits the speed of change requires an immediate response. The company will present that new…
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