Ann: FY24 Earnings Guidance, page-11

Solar and wind are expensive per kilowatt hour, and most importantly do not provide 24/7 reliable, cost effective electricity.

Ask mainland China and Indian authorities, the first an authoritarian Marxist regime, the second an (imperfect) democracy. Both continue to build and open many coal-fired power stations.

However I recognise the Federal Labor socialist government's obsession with virtue signalling: IPG is a well run company, but also a beneficiary of such largesse. The mainland Chinese and Taiwanese may have different political systems but like Japan, they share incredulity at the Western world pushing the self-destruct button, a component of which is higher energy prices per kilomwatt hour or tetrajoule even though we have huge thermal coal and gas reserves.

At least Minister Chris Bowen has recently admitted that gas has a role.

While I have lightened my holding, I've not sold all.