Caught a bit of Ross Garnaut on ABC24 today ( National Press Club ). He is presenting his update of the 2008 Climate Change Review. Unfortunately it doesn't look like its on Iview.
Anyway , he spoke about what he thought was the best way to upgrade our coal fired electricity generators. He used the example of the Latrobe Valley ( Vic ) generators. His recommendation was to build new gas fired generators effectively alongside the existing ones in order to take advantage of the infrastructure and the workforce. His view was to build these genny's before decommissioning the old ones in order to avoid significant impact to the local workforce.
Made me think about the NSW generators and what would happen if this policy was applied there. Of course AGL , ORG and others would want in but arguably it would be significant to anyone who had gas in NSW.
Garnaut is presenting his update around the place so look out for it because it is pretty interesting and obviously relevant not just to investors but electricity customers in general.
ESG Price at posting:
66.5¢ Sentiment: Buy Disclosure: Held
