We recognise that as Australia’s largest corporate emitter of carbon, AGL has an obligation to do all it can to reduce its emissions. We have a plan to transition out coal from 2022. We are also working to decarbonise our electricity generation portfolio.
Someday soon, we expect that the technology required for a fully renewable electricity network will be available. Unfortunately, technology is just not there yet.
Right now, we have $1.9 billion worth of energy supply projects under development, with a further $1.5 billion subject to feasibility.
These projects range from upgrades to our existing sites to new renewables projects. A number are gas-firming projects which play an important role in this transition period to ensure clean, reliable and affordable electricity.
We believe gas fired power stations will assist us in this transition to a decarbonised electricity generation portfolio.
Whilst it is a possibility that Australian gas will be exported to another country and then imported back through the proposed import terminal, this is highly unlikely as the associated costs of doing so would not be feasible.
It would be more cost effective to purchase the gas directly from where it is extracted, instead of obtaining gas from a country that has a need to import it.