Ann: Asset impairment and recognition of onerous contracts, page-11

@danhoff
oh, this impacts the books 100%... they are taking a hit this year, so that following years look better.

Have to agree with them on the 900 million writedown of goodwill.... its a terrible asset in general and only confuses the actual value of assets on the balance sheet - businesses should be allowed to amortise the value of 2-3 years IMO... hardly ever actually worth keeping on the books - as it cannot be easily realised / re-sold.

Onerous wind pricing deals would have been struck by AGL as the incumbent CEO exited the renewable portfolio that the prior CEO had started to build... sites like Macarthur, Silverton & Coopers Gap (and others) - initially funded by AGL and then sold off with PPA's in place would be the vast majority of these onerous deals...

https://renewablesnow.com/news/australias-agl-sells-50-in-420-mw-macarthur-wind-farm-491693/
https://finance.nine.com.au/business-news/agl-sells-off-silverton-wind-farm/a6b78542-1c58-4049-9c05-f1ea16d55b7f
https://www.energymagazine.com.au/coopers-gap-wind-farm-reaches-financial-close/

When (not if) I get an electric car - there will be no chance in hell that I would allow it to be used on the grid for storage.... it will halve (at least) IMO the effective life of the car! AGL has a deal for home powerpacks in SA... they can use the battery as they see fiit... which includes full discharge!!!! Nothing can shorten the life of these batteries quicker than reckless abuse.