Well change is 35 long years away and unless there is some new...

Well change is 35 long years away and unless there is some new yet to be discovered form of baseload power generation, then its a load of crap pandering to minority groups who dont have a clue about the realities of business. Announcements like that should scare s'holders as AGL runs sections of its business at a loss. Disappointed in AGL. Anything green loses money. End of story.

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The logic that sustains the age of coal generation is that integrated electricity networks only work when you have base-load power and the most cost efficient and reliable source of base-load power is coal.
Self-evidently, Vesey's conviction is this paradigm will change at some point over the next 35 years.


Asked how AGL would replace the coal-fired base load that current generates 30 per cent of power supplies in NSW and Victoria, Vesey said only:
"We will look at a range of technologies, including large-scale renewables, distributed generation, as well as explore new and emerging technologies that evolve."
This would appear to indicate the AGL Vesey foresees will be very actively blending the peak cycles of a broader base of much larger renewable power sources and will be more actively trading around the margins of a power surplus, which he has to be betting is only going to get bigger as both technology and markets evolve.
There is nothing in Vesey's pledge, for example, that says AGL will not buy or sell coal-fired power."