AGL Energy will close its main gas-fired power station in South Australia by 2026, citing the completion of a new grid link to NSW that will give the state more access to low-cost renewable energy.
The energy giant, which has been under siege from billionaire activist Mike Cannon-Brookes over its decarbonisation pace, told the ASX on Thursday it would close the remaining three units of the 600 megawatt Torrens Island B gas-fired power station on 30 June 2026.
The closure plan was driven “in part” by the construction of a new transmission line between NSW and SA that is due to begin operating by mid-2026, AGL said.
The decision was not influenced by the recent expansion of the company’s board to add four members proposed by Cannon-Brookes. Discussions between AGL and the SA government have been going on for some time.