AGL rings the alarm bells

AGL has issued some dire warnings on the state of the NEM, claiming it is at risk of “systemic failure”. The call appears over-the-top but in the meantime, the company is mothballing SA investment, including its renewables ventures.

The National Electricity Market is becoming an unviable investment proposition for all forms of new generation and the NEM is consequently at risk of “systemic failure”, prominent electricity retailer AGL Energy has warned ahead of its annual general meeting today.

The call comes just days after it halted construction on the gas-fired Dalton power station in New South Wales due to unfavourable market conditions, specifically soft demand.

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