What advantage in low fuel cost world?, page-7

Exactly - capital is costly and scarce, the future is unknown. Hedging fuel prices going forward can lock in savings if fuel prices rise in future or lock in losses now if the hedged price stays above current prices.
Doing fuel saving for CO2 reduction is, at this stage, for public relations and the business benefits of essentially, advertising. A significant carbon price would make it an outright business expense and drive faster and more extensive adoptation of low carbon production.
Blackfrost doesn't make much sense as most of the cost of electricity and gas in Australia is transport, not the cost of the end product (energy) itself.