AGL denies Do-nothing Malcolm coal deal

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It appears Do-nothing Malcolm can’t even write a press release:

Energy company AGL has stressed it has no plans to operate its Liddell power station beyond the 2022 closure date and insists it has not yet agreed to sell the station to enable another operator to keep it functioning for another five years.

After Prime Minister Malcolm Turnbull said AGL boss Andy Vesey had agreed to negotiate the sale of the old coal-fired power plant during a series of phone calls on Tuesday, the company issued a statement to the ASX saying that while it was prepared to have discussions, nothing was set in concrete.

“AGL will continue to engage with governments, regulators and other stakeholders to deliver appropriate outcomes but notes that the company has made no commitment to sell the Liddell Power Station nor to extend its life beyond 2022,” the statement said.

Energy Minister Josh Frydenberg said he and Mr Vesey had scheduled a meeting for Monday next week.

Chaos.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.