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AGL to close last Australia coal plant by mid-2035, one decade early

September 29, 2022

Renew Economy:

AGL Energy, the big three gen-tailer that just months ago declared closing coal early a silly idea, is fast-tracking its exit from coal-fired generation, with new plans to close its last plant by mid-2035, a decade ahead of the previous schedule.

In an announcement to the ASX on Thursday, AGL’s newly overhauled management team and board said the company would bring forward the closure date of the troubled Loy Yang A Power Station in Victoria’s Latrobe Valley by up to 10 years to 2035.

On its other two remaining coal plants, Liddell and Bayswater in New South Wales, AGL says it remains on track to shut both of these in April 2023 and between 2030 and 2033, respectively.

“We have heard it from our customers, communities, governments, capital providers and shareholders – the time is now for AGL to show leadership in the energy transition,” said AGL’s incoming Interim CEO, Damien Nicks.

Nicks says its decision to accelerate the closure of Loy Yang A – the result of a major strategic review – represents a major step forward in Australia’s decarbonisation journey, and brings AGL into line with the Paris Agreement goals.

[Sophie Vorrath]

More: AGL joins Australian coal exodus with target for complete exit by 2035

 

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