In regards to the irrelevant addition of China power production to AGL discussion... care to add the utilization factors for those assets???
China is run by government owned provincial entities acting based off directives from the China communist party via energy policy... there is no link between supply and demand.
They are building assets they do not need and have utilisation rates that are so abysmal (below 50% since 2015 and declining) that the assets are being run at a loss (google it) - its not just the coal assets either... its all generators due to the level of oversupply present in their market.
https://globalenergymonitor.org/wp-content/uploads/2021/02/China-Dominates-2020-Coal-Development.pdf
https://www.carbonbrief.org/analysis-will-china-build-hundreds-of-new-coal-plants-in-the-2020s
Even Wikipedia which you referenced for the pie graph doesn't paint a good picture for coal plants. Up to 60% of them being cashflow negative in 2019... 43% being more expensive than renewables in 2019 and 94% being more expensive than renewables by 2025.
https://en.wikipedia.org/wiki/Electricity_sector_in_China
At least AGLs Australian assets ARE needed presently and while the coal price is lower than NEM spot price, they can generate profit for AGL... at a minimum cashflow from revenue SHOULD have been used to invest in newer LCOE options... but BoD has been more than happy to collect fat paycheques and defer any direct investment until after demerger at least. All the while issuing more shares to pay shareholders dividends which reduce their ownership level in this company... it is quite horrifying to watch actually.
By the time demerger occurs - it will be too late IMO
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