the peak in 2017 aligned with many things... AGL exited gas in 2016, but the biggest impact to SP was the NEM spot price
"“The impact of the Hazelwood closure has been, and continues to be, significant right across the NEM. In Victoria, average spot prices for 2017 were up 85 per cent on 2016 and up 32 per cent in South Australia for the same period. New South Wales and Queensland were up 63 per cent and 53 per cent respectively."
The decline from that time IMO can be attributed to management and BoD lack of direction and poor decision making: Vessy leaving AGL in 2018 after pressure from Coalitions Josh Frydenberg (then environment and energy minister) to the board of AGL over Lidell closure dates Attempted takeover of VOC Impairments started to present on PowAR co assets spun out of balance sheet in 2015 as increasing supply resulted in lower spot pricing than PPAs Crib Point gas import jetty
Plus a myraid of other things... notably including a lack of future generation development and a lack of alignment of BoD & executives to shareholders
AGL Price at posting:
$7.67 Sentiment: Hold Disclosure: Held
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