Friday is the big day for Queenslanders and a very big day for AGL. The energy costs as well as SPs of AGL, ORG and APA are up for the reason that this Dr Michael Vertigan inquiry is totally expected to rule for energy security and for upstream. Any unexpected decision from Dr Michael Vertigan, a man who has been an ex-Aurora Energy Director and totally sympathetic to midstream and downstream in his past Treasury and Energy background, would be a massive backflip and Dr Vertigan would be potentially open to all sorts of claims and counterclaims from AGL, ORG, EnergyAustralia and APA if he reversed his lifelong beliefs in energy security, integrated economics and the free market. For him to say Australia does not need any energy security or anything like that, would be met with Court challenges and just energy chaos.
The likes of upstream Queensland operators such as ORG, STO (a South Australian and Queensland Government supported entity, NB: those states r mainly ALP controlled) and SXY (Qld O&G producer) getting an advantage at the expense of midstream, APA, DUE, AGL, the other to be sold part of ORG and CLP, owner of EnergyAustralia is very wishful thinking IMHO but pls DYOR.
Prices for domestic Australian consumers may not be going down whatever Dr Michael Vertigan comes up with. There might be only downside for a downstreamer like AGL with limited upside but let's see.
(20min delay)
