From AFR Seems like bad news as the demerger did not go ahead due to MCB
"Jokes aside, this company desperately needs new owners. Management is abysmal, with an extraordinary gift for shrinking earnings even when energy prices are spiking. There are no institutions left on the register and its one predator is running with a fantasy in place of a strategy.
New owners need to secure a huge commitment from the Andrews and Albanese governments to underwrite AGL’s transition to renewables. The liabilities AGL will incur by shutting down Loy Yang are massive.
The site remediation alone will cost billions. They have been digging coal out of the world’s largest hole for 40 years and they’ll have to fill it with water (Double Bay Jesus prefers Evian).
Even more importantly, there are the social costs of abruptly removing so many jobs from the Latrobe Valley. It’s an underprivileged region that would suffer extreme social dysfunction if AGL just turns the lights off and says, “see ya!” No government will countenance repeating the US rust belt experience.
What do you do for this community? Does anyone really believe Double Bay Jesus gives a rat’s arse about them?"
Does not look good at all... sabotaged into losses imo DYOR
(20min delay)