you say the retail arm will be unencumbered from carbon emissions... but they will have PPAs from coal plants from Accel for a good part of their supply
AGL is able to access debt markets for operational capital (as they have also pre-arranged for Accel) at reasonable credit ratings... but when it comes to project financing I believe it is a different issue.
I do agree that MCB sees a lot of value in AGL and that the customer base is a large portion of the appeal... I have posted on this previously .. having customers enables a higher level of generation to be directly sold at prices more consistently higher than they could achieve on the NEM. This is part of the issue for me with Accel... they have a PPA to AGL for a number of years... then they will be greatly exposed to whatever the market is willing to pay from then... or they start competing directly AGAINST clean AGL to pickup their own customer book
AGL Price at posting:
$8.61 Sentiment: Hold Disclosure: Held
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