D26 Electricity Supply

AGL, Origin face climate change scrutiny from shareholders

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 20 : 30-Sep-15

The policies of AGL Energy and Origin Energy aimed at reducing greenhouse gas emissions are likely to be a key focus for shareholders at their 2015 AGMs. The Australasian Centre for Corporate Responsibility (ACCR) will present resolutions to the AGMs of both groups regarding climate change measures. However, ACCR executive director Caroline LeCouteur has welcomed AGL’s revised position on climate change, which was announced in the lead-up to its AGM.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY, MACQUARIE GENERATION, LOY YANG A, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, UBS HOLDINGS PTY LTD, GETUP LIMITED

Solar forecast to outshine wind power

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The Australian Financial Review – Page: 20 : 4-Sep-15

The UBS utilities research team predicts solar power will be cheaper than wind power and even undercut thermal power by 2020. It says solar could account for a quarter of the world’s power generation by 2050. UBS forecasts that solar will be the default power supply technology of the future, backed up by storage and thermal power.

CORPORATES
UBS AG, ORIGIN ENERGY LIMITED – ASX ORG, AGL ENERGY LIMITED – ASX AGL, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

AGL Energy defends 2050 coal exit date

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 23 : 13-Aug-15

AGL Energy has defended its decision to stick with coal-fired power generation until 2050, claiming an earlier exit would put jobs at risk, threaten the competitivess of some industries and increase electricity prices. CEO Andy Vesey also emphasised the importance to AGL of the Gloucester coal seam gas project in New South Wales, a target of environmental activists.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, MACQUARIE GENERATION, JP MORGAN AUSTRALIA LIMITED

Foreign TransGrid bidders face scrutiny

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 7-Aug-15

Bidders for the New South Wales Government-owned TransGrid will soon lodge indicative offers. Their bids will be closely scrutinised by the Foreign Investment Review Board, because of the involvement of foreign parties in the bidding process. Treasurer Gladys Berejiklian said the State Government will retain influence over the privatised entities through regulatory, planning and licensing powers.

CORPORATES
TRANSGRID, AUSGRID PTY LTD, ENDEAVOUR ENERGY LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, NEW SOUTH WALES. THE TREASURY, CHEUNG KONG (HOLDINGS) LIMITED, STATE GRID CORPORATION OF CHINA, CHINA SOUTHERN POWER GRID COMPANY LIMITED, MACQUARIE INFRASTRUCTURE INVESTMENT MANAGEMENT LIMITED, CHINA INVESTMENT CORPORATION, GLOBAL INFRASTRUCTURE PARTNERS, ELECTRANET SA, NATIONAL ELECTRICITY MARKET MANAGEMENT COMPANY LIMITED, JEMENA LIMITED, AUSNET SERVICES HOLDINGS PTY LTD – ASX ANV, SINGAPORE POWER LIMITED

Retailers eye battery ‘revolution’

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 3-Jun-15

Battery storage technology is widely tipped to be the "next big thing" for Australian households. A number of energy groups are banking on future demand for battery storage, with AGL Energy entering the market in May 2015. Red Energy, Ergon Energy and ActewAGL hope to begin selling Panasonic’s new home battery system later in 2015, after they undertake a trial of the technology. Demand for battery storage solutions is expected to be particularly high among households with solar power.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, RED ENERGY PTY LTD, SNOWY HYDRO LIMITED, ERGON ENERGY CORPORATION LIMITED, ACTEWAGL, PANASONIC AUSTRALIA PTY LTD, ORIGIN ENERGY LIMITED – ASX ORG, TESLA MOTORS INCORPORATED, ENPHASE ENERGY, MORGAN STANLEY AUSTRALIA LIMITED, AUSTRALIAN RENEWABLE ENERGY AGENCY

AGL Energy shares hit 8-year high

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 27-May-15

AGL Energy has revealed details of its "strategic road map", which will include cost reductions and asset sales. AGL plans to divest its 50 per cent stake in the 420-megawatt Macarthur wind farm in Victoria, which is expected to fetch about $A500m. Some analysts believe that AGL will also sell its upstream gas business, while a decision on the Gloucester coal seam gas project will be made later in 2015. AGL shares closed 6.3 per cent higher at $A16.45 on 26 May.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, MACQUARIE GENERATION, MORGAN STANLEY AUSTRALIA LIMITED, AES CORPORATION, MACQUARIE WEALTH MANAGEMENT

AusNet full-year profit dives 87pc on hefty tax charges

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 21 : 15-May-15

Australian-listed AusNet Services has posted a 2014-15 after-tax net profit of $A22.6m, which is 87 per cent lower than previously. The result was marred by a payment to the Australian Taxation Office to resolve a tax dispute. Revenue of $A1.83bn rose by 1.9 per cent and EBITDA was 2.9 per cent higher at $A1.05bn. Investors will receive a final distribution of $A0.418 per security.

CORPORATES
AUSNET SERVICES HOLDINGS PTY LTD – ASX ANV, AUSTRALIAN TAXATION OFFICE, CHINA STATE GRID, SINGAPORE POWER LIMITED, MOODY’S INVESTORS SERVICE INCORPORATED

Baird to stop Liberal rot

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Original article by Geoff Winestock
The Australian Financial Review – Page: 1 & 5 : 23-Mar-15

The latest Fairfax Media-Ipsos poll shows that the New South Wales (NSW) Coalition has 54 per cent support on a two-party preferred basis, compared with 46 per cent for the Australian Labor Party. The poll, which was carried out from 19-21 March 2015, also shows that 48 per cent of NSW electors support the proposed partial sale of the state’s electricity network, while 47 per cent are against it. However, 61 per cent oppose the sale unless the proceeds are invested in new infrastructure projects

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, IPSOS AUSTRALIA PTY LTD, LIBERAL PARTY OF NEW SOUTH WALES, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL-NATIONAL PARTY OF QUEENSLAND, VICTORIA. DEPT OF PREMIER AND CABINET, THE GREENS NSW INCORPORATED, CHRISTIAN DEMOCRATIC PARTY (FRED NILE GROUP), SHOOTERS AND FISHERS PARTY INCORPORATED, NO LAND TAX PARTY, REACHTEL PTY LTD

Poles and wires sale no threat to budget: Baird

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Original article by Geoff Winestock
The Australian Financial Review – Page: 1 & 12 : 19-Mar-15

New South Wales Premier Mike Baird has downplayed concerns raised by UBS about the potential impact of the proposed electricity network privatisation on the state’s Budget. The "poles and wires" contribute about $A700m to government coffers each year, but Baird argues that the loss of this revenue will be offset by an economic benefit of $A300m over two decades arising from the state’s asset-recycling program. He also does not expect the unpopularity of the Federal Government to affect the state election

CORPORATES
NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, UBS HOLDINGS PTY LTD, AUSTRALIAN LABOR PARTY, DELOITTE ACCESS ECONOMICS PTY LTD, NEW SOUTH WALES. THE TREASURY, LIBERAL PARTY OF NEW SOUTH WALES, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COUNCIL FOR THE AUSTRALIAN FEDERATION, RESERVE BANK OF AUSTRALIA

NSW the next power retailing battleground

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 13 : 10-Mar-15

Prices in the New South Wales electricity market are likely to be fully deregulated if the State Government wins the March 2015 election. A number of smaller electricity retailers are likely to increase their push into the New South Wales market as a result. These include Red Energy, Momentum Energy, Meridian Energy and Lumo Energy. Full deregulation is likely to prompt more consumers to switch electricity providers

CORPORATES
RED ENERGY PTY LTD, SNOWY HYDRO LIMITED, MOMENTUM ENERGY PTY LTD, MERIDIAN ENERGY LIMITED – ASX MEZ, LUMO ENERGY AUSTRALIA PTY LTD, SIMPLY ENERGY, HYDRO TASMANIA, GDF SUEZ SA, ALINTA ENERGY (AUSTRALIA) PTY LTD, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, ORIGIN ENERGY LIMITED – ASX ORG, AGL ENERGY LIMITED – ASX AGL, ENERGYAUSTRALIA PTY LTD, ENERGY RETAILERS ASSOCIATION OF AUSTRALIA INCORPORATED, AUSTRALIAN LABOR PARTY, POWERSHOP AUSTRALIA PTY LTD