AGL will go significantly higher on result, page-156

AGL, the biggest owner of coal-fired power stations in Australia, has ruled out participating in the Coalition’s push to build nuclear plants at the sites of retiring generators, and warns the debate risks derailing critical investment in the energy transition.

Opposition Leader Peter Dutton is ramping up his campaign against the Albanese government’s ambitious renewable energy goals and has declared nuclear must be part of the country’s future energy mix. Dutton has specified that his plan would involve building as many as six nuclear plants on or near the sites of decommissioned or retiring coal generators.

“AGL is already developing our coal and gas power station sites into low-emissions industrial energy hubs,” Nicks said.“As the owner of these sites, nuclear energy is not a part of these plans.”

AGL, under pressure from shareholders including billionaire climate activist Mike Cannon-Brookes to target faster and deeper emissions cuts, has committed to fast-track the retirements of its coal plants and increase spending on clean energy.