Owner of country’s biggest solar farm takes financial hit because of near two-year delays in reaching full production, and is not flattering of Australia political and regulatory environment.
The crash in oil prices exacerbates the uncertain future of gas as Origin Energy hits pause on fracking plans in the NT.
Australia’s energy companies have ramped up protections for key operational workers at Australia’s largest power stations and may include the total isolation of staff in a bid to protect power supplies from the spread of Covid-19.
Coal and gas outages, and the rising impact of rooftop solar, clip Origin earnings, but its proposal to build a big battery in Victoria clouded by federal government intervention.
In the US, NextEra saw the future and committed to wind, solar and batteries. In Australia, AGL and Origin bet the house on fossil fuels, and their shareholders have suffered.
Origin CEO says coal is not the right choice for maintaining grid reliability, arguing incentives must be targeted at flexible and low-emissions sources.
Origin Energy board faces fiery shareholders focused on NT fracking and sees coal-fired Eraring power station as valuable even under a 1.5-degree target.
Origin shareholders will vote on a resolution calling on Origin Energy to disclose plans to phase out coal power generation consistent with Paris Agreement.
Origin sees future as decentralised and digitised, and focused on solar, storage and “connected” customers. But how to maintain profit margins and beat off new rivals like Shell?
Shell bids for Australia’s ERM Power, marking first big move in plan to take dominant position in electricity and electric transport.