Origin Energy’s move to shut down the country’s largest coal-fired power station in 2025 makes AGL Energy’s looming demerger of its coal power business look like a hospital pass.
If it makes sense for Origin Energy to close the uneconomic Eraring coal-fired power station in 2025, six years earlier than planned, how on earth does it make sense for AGL Energy to sell the Bayswater and Loy Yang A power stations to investors?
Calabria’s brutally honest assessment of the energy market’s economics and his well-informed assessment of the NEM’s ability to replace coal-fired power from Eraring with other sources, echoed whatAEMO chief executive Daniel Westerman said on Thursday: “Planned additional transmission capacity – including the announced battery - will give the state access to enough electricity generation to meet the Energy Security Target at the time Eraring closes.
Second, renewable energy continued to drive zero or negative wholesale electricity prices and record-low daytime demand levels.
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