I think AOE has already shown clearly the rationale to be in power generation, and has attempted to shift whatever infrastructure it can off balance sheet, in a manner that still captures the synergies and market value for it's gas.
With Braemar they need control over whether it provides peak or peak and shoulder, or even base load, in order to maximise it's value add to the gas, and for it to assist with LNG ramp up management. Hard to do that if it were soun off. More likely imho AOE moves to 100%.
Townsville is strategic imho, with no current competition.
Besides, without the electricity we wouldn't have half the revenue.
EL
AOE Price at posting:
$3.35 Sentiment: LT Buy Disclosure: Held
