Simone Ziaziaris Monday
Former deputy prime minister Barnaby Joyce has accused AGL of treating the federal government as fools after the company rejected an offer to buy its Liddell power plant.
AGL has completed its assessment and has told the bidders that it will not proceed with the offer.
"The AGL Board has reminder that the Offer is not in the best interests of AGL or its shareholders", AGL said.
AGL's Liddell power plant, which supplies 10 per cent of the electricity used in Australia's most populous state, New South Wales, is seen as crucial for energy security as the grid becomes more reliant on intermittent wind and solar power.
The energy retailer reaffirmed its plans to close Liddell in 2022.
The Australian Energy Market Operator has confirmed that completion of the generation plan will address the capacity shortfall that may occur as a result of Liddell's closure.
The Pope says God makes some people gay. Now get over it.
The man accused of molesting Cruz, Fernando Karadima , now 87, was found guilty by the Vatican and banished from the church. The Vatican has not yet confirmed or clarified the comments that Cruz said the Pope made regarding homosexuality.
Lou Lamoriello to join Islanders front office
In that time, the Islanders have made the playoffs four times, losing in the first round three times and the second round once. Staple also reports that Lamoriello met with impending unrestricted free agent and Islanders captain John Tavares last week.
Mario Batali's company to cut all ties over "chilling" allegations
TMZ reports that the next thing she remembers is being sexually assaulted by Batali while physically unable to resist. Jamie Seet was a manager at the Spotted Pig and she told Cooper of another incident three years later.
AGL shares are now trading at 13x FY19's estimated earnings, which seems very reasonable.
Conservative Coalition backbenchers pounced on AGL's decision.
"The offer by Alinta to purchase Liddell was unsolicited and ambiguous, and the union has no confidence that jobs would be secure under such a plan".
"AGL's decision is disappointing", Australian energy minister Josh Frydenberg said in a statement. AGL also needed the plant to meet consumer demand till 2022 and will use Liddell's site for battery installation after 2022 for its operations in renewable power.
"While the government recognises AGL has put forward a replacement plan, it has only financially committed to a fraction of the projects - namely, a 100MW upgrade to its existing coal-fired Bayswater power plant and a 250MW gas peaking plant".
Recommended News
-
21 May 2018Cherry Hill East Principal Apologizes For 'Party Like It's 1776' Prom Tickets
Perry's letter did not specifically mention slavery, which persisted in New Jersey well into the 19th century. Additionally, all students are set to receive a "commemorative Prom Ticket" upon arrival.
21 May 2018Marc Leishman leads Aaron Wise by one at low-scoring Byron Nelson
After opening with a 61, Leishman carded a five-under 66 to move into 15 under at the Trinity Forest Golf Club in Dallas, Texas. A day after playing a career-best round with a 10-under 61, Marc Leishman picked up where he left off in round two.
21 May 2018Defeat of $687M farm bill a setback for GOP House leadership
That's down from a record 47.6 million in 2013, but is 26 percent higher than the 33.5 million who received food stamps in 2009. The future of the bill is uncertain. "Republican leaders are discussing ways to bring it up again", NPR reports . -
22 May 2018Easing of US-China trade tensions boosts stocks, dollar
Last year, the US had a record deficit with China in merchandise trade of $375 billion, the largest with any nation. USA crude rose 1.8 percent to $72.56 per barrel and Brent was last at $79.52, up 1.29 percent on the day.
21 May 2018Royal Wedding: See Meghan Markle's Evening Reception Look
The pair headed off in style to their 200-person evening reception at Frogmore House, riding to the party in a classic vehicle . She paired it with a veil adorned with lace and a tiara, lent to her by Queen Elizabeth II and once owned by Queen Mary.Prince Harry & Meghan Markle They Got Hitched and it was Awesome!!!
Revellers also packed into bars to watch the wedding as far afield as Sydney, Hong Kong and Markle's native Los Angeles. Hundreds of street parties were held around Britain and there were public screenings in pubs up and down the country. -
22 May 2018Donald Trump willing to walk away from North Korea talks: Pence
Pompeo didn't mention a role for financial assistance from the Overseas Private Investment Corp. or another US agency. North Korea launches four missiles in this photo made from video released by North Korean state media in March.
21 May 2018Priyanka Chopra praises Harry and Meghan's 'wedding of change and hope'
Actress Priyanka Chopra has praised newlyweds Prince Harry and Meghan for organising a ceremony which stood for "change and hope". In addition to Priyanka, Meghan's Suits co-stars are also attending.
21 May 2018Santa Fe HS student Shana Fisher killed in mass shooting, mother says
The day before the shooting, Mr Ray and Mr Pagourtzis went on a class field trip to Schlitterbahn, a water park in Galveston. Investigators on Friday searched a trailer where they believe the devices were assembled, a law enforcement source said. -
22 May 2018Han Solo's 'Return of the Jedi' blaster up for auction
We also get a glimpse at Chewie's partner, who was previously revealed as Mallatobuck in the Star Wars Holiday Special. It's Tobias who gives Han his famous blaster, and warns the younger man to trust no one.
22 May 2018Steph Curry's Mom Puts Him On Blast After His In-Game Profanity
I won't let two tough games shooting keep me frustrated'. "I've got to do it again". He said the moment got the best of him. 'All it takes is one, ' Kerr said.
22 May 2018Emery beats Arteta (and Tim Sherwood) to Arsenal job
According to the BBC , Arsenal voted unanimously in favour of appointing Emery and the Spaniard will be unveiled later this week. Arsenal chief executive Ivan Gazidis was last night thrashing out the finer details of the deal with Emery's representatives.
