Australia’s renewable energy industry set a new record in 2021, delivering more than one-third of the National Electricity Market’s (NEM) electricity. It is undeniable that the market is rapidly transitioning away from fossil fuels, as state governments announce new targets for offshore wind and accelerate zero-emission projects. Despite this progress, AGL continues its coal crusade, failing to act in the best interests of customers, shareholders, employees, and the environment.
Amended Coal-Fired Plant Closure Dates a “Token Effort”
One of Australia’s oldest companies, AGL generates about one-fifth of the National Electricity Market’s power, with about 11,000 megawatts of capacity. By the end of this financial year, it plans to split into two, with most of the generation units going into its Accel Energy spin-off, and the retailing arm to make up AGL Australia.
In what has been described as a ‘token effort’ that is ‘next to meaningless’ by climate groups, AGL has announced that they will bring forward the closure date of its two biggest coal-fired power plants by several years.
AGL’s Hunter Valley-based Bayswater black coal-fired power station in New South Wales has been rescheduled to close “no later than” 2033 from its previously scheduled demise of 2035, while its brown coal-fired Loy Yang A plant in Victoria will now close by 2045 rather than 2048. These dates are all tentative, however, dependant on “the readiness of the entire energy system to operate without our critical baseload generation”, the company said.
Glenn Walker, a senior campaigner at Greenpeace Australia Pacific, said the amended closure dates are not even close to being good enough, and years later than what’s needed to meet our Paris Agreement targets.
“AGL doesn’t even get a golf clap for its timid token effort in delaying the closure timeline for Loy Yang A, Australia’s worst-polluting coal-burning power station, to 2045.
“In delaying Loy Yang A and Bayswater’s inevitable closure, AGL is putting worker and investor security, as well as the climate, at serious risk,” Walker said.
Related: How Green Is Your Electricity Provider?
Greenpeace: AGL “Obsessed” with Coal
In a statement earlier today, Hannah McLeay, Campaigner at Greenpeace, said the country’s record-breaking transition to renewables compounds the failure of AGL’s leadership to read the market.
“AGL, Australia’s biggest climate polluter, continues to fail to read the market and the rapid pace of the energy transition, in the face of mountains of evidence and data.
“The market is shifting at lightning speed away from fossil fuels. Consumers are transitioning through rooftop solar, state governments are introducing new renewable energy policies and projects, and other energy companies including Origin are closing their coal-burning power stations early. Meanwhile, AGL is busy trying to split its company in two to hide the extent of its financial and environmental failures.
“Against all evidence, AGL is doubling down on its coal-burning assets by trying to hide them behind a dodgy, tokenistic, and value-destructive demerger. This is a clear demonstration of AGL’s outdated, evidence-free obsession with burning dirty coal.”
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