Feb-22 Energy Market News

Feb-22 Energy Market News

February news was dominated by AGL and Origin Energy, although Andrew Forrest continues to push hydrogen opportunities. Power plant closures are brought forward while Brookfield with Cannon-Brookes make a move on AGL.

This month news summary encapsulates key news from AGL and Origin Energy to bring forward the closure of coal fired power stations in recognition of a faster transition than originally expected. Price escalation concerns followed, although the closure of these plants is under very different circumstances to the closure of Hazelwood Power Station in 2017.

Break-through battery technology and hydrogen projects make headlines, along with the $8bn proposal by Canadian Brookfield with Mike Cannon Brookes to takeover AGL prior to the proposed company split. Subsequently AGL Board declined the bid, suggesting a fair price would be another $1bn.

More renewable projects reach milestones, while the NSW Renewable Energy Zones tender is inundated with offers. Troubles emerge in Ukraine and create opportunities for Australian export energy companies, and threaten energy prices in Europe and to some extent, Australia.

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