‘Sustained’ reduction in energy prices prompts $2.7b writedown at AGL – Sydney Morning Herald

Slumping wholesale power prices have forced energy giant AGL to book a hefty $2.69 billion writedown in its first-half result to account for onerous wind farm contracts and the falling value of its power generation assets.
Australias largest energy retailer – and the nations largest generator of electricity – warned investors on Thursday it expects a sustained and material reduction in prices for wholesale energy and renewable energy certificates. The price slump was a result of policy measures…

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