considering MB is our COO, he has a vested interest in promoting...

considering MB is our COO, he has a vested interest in promoting our assets. aging coal power plants are still our largest generators

as to his assertion on spot price movements. consider AGLs hedging policies... and how often they have had it wrong - MOST of our recent downgrades were due to incorrect hedging policies and the rest were from the last moron who sold off our renewables into PowAR Co with far too high PPAs... again showing that their price predictions have been wrong for a long time now.

if you haven't read the annual Deloitte energy reports, you should. (google it, HC won't let me add images or links from my phone) this years report doesn't show the lcoe for all generation types. previous years have. this years report confirms scale continues to make renewables cheaper to build and develop (solar does have a saving ceiling coming it seems)

regarding MBs statement on EXISTING generation, I will concede that they will have a different cost to new... problem is our assets are either aging or aged... we are now spending a whole lot of money (over 1 billion last year from memory) to maintain assets which should have already had replacement capacity in construction, if AGL had any intention to maintain their generation capacity over time. the previous board was more than happy to just take in the revenue from these assets and pay increased board remuneration instead.

I have said this before - imo - AGL has held out on building new capacity so that they could maximise the return on their existing generation assets... waiting until the assets were about to retire before doing anything. new capacity will reduce current spot prices after all.... problem is, other entities have used this inaction to plan and commence building. afaik, agl didn't even put any offers into any of the nsw renewable energy zone auctions for generation.... but the successful jv for energy storage/grid forming was a good move. can't say I have seen their name against any offshore wind either