Wind not blowing, sun not shining - Exclusive, page-61

Above is corporate speak, otherwise known as PR spin.

Translation:
Is translated as follows:Hi Zoe, we agree climate change is a critical issue facing the global community, we are not a party in terms of being a signatory to the direct Paris Agreement, but we still have to operate our business as it is effected by the Paris Agreement.In order to achieve this we wrote down and impaired our coal generated assets. We then plan to insert them into a new separately listed 'Dirty AGL' list co. By impairing and writing down the coal generated assets prior to insertion into the new list co, their future depreciation and amortisation will be much lower thereby enabling EBITDA to more closely approximate EBIT. In addition we are transferring most of current AGL debt into a new separately listed 'Clean AGL'. So effectively "Dirty AGL' will carry very little debt and hence the 'I' in EBIT will be very small. This will enable us to pass most of the operating cash flow from "Dirty AGL' directly to the share holders in the form of fully franked dividends. Our goal is to give those shareholders who continue to hold 'Dirty AGL' very very juicy fat dividend cheques every six months.When we retire Liddell in 2023 we anticipate another significant reduction in Australia's base load electricity production. Given that it would have cost us a sh**t load of money to fix Liddell since it was old anyway, we will retire it and use it as a great PR excercise. However this will actually directly benefit the remaining two coal fire plants in our system and will enable us to achieve even higher returns on those two remaining assets.In addition this will put more pressure on state governments who love to PR gloat their green credentials but have absolutely no idea how they are going to still provide sufficient base load power. We anticipate that once we close Liddell, the governments will become scared and will offer us a direct payment so that we don't switch off the remaining two.In addition we plan to provide increased profits by deliberately shutting down parts of our generators for 'maintenance' during those months when there is a higher probability of not achieving satisfactory returns. This will place more stress on the system for which we anticipate further payments.All our future profits, do not incorporate the possibility of some other companies generating assets blow up, catch fire, or in any other way become temporarily incapacitated, but in the event that this happens, we will make even more money.As a gesture of sincerity that Dirty AGL will make good money both the current Chairman and CEO of AGL are all jumping ship to "Dirty AGL". They know the food trough will be sufficient to continue to food them.