AGL recognises climate change is an industry-reforming driver, and has structured its asset portfolio accordingly. The Company has a market-leading position on investments in electricity generation that is renewable or low-greenhouse gas intensity.
AGL renewable generation investment is largely driven by opportunities created by Australia’s 20% Renewable Energy Target legislation, which has bipartisan political support.
Renewable electricity generation makes up to 27% of AGL’s operated capacity. AGL develops and operates renewable and low-emission generators across many locations and technologies, including:
In FY2012, a further 115.5 MW of renewable energy generation capacity commenced commercial operation. The operation of the AGL Hallett 5 Wind and Oaklands Hill Wind Farms increased AGL’s operated renewable capacity by 10% to 1,320 MW. Installed capacity of operated generation assets¹
In August 2009, the Commonwealth Government passed legislation introducing a 20% RET by 2020 for Australia. The new target requires 41,000 GWh of renewable generation by 202 to 2030. Meeting the 20% target by 2020 will require an estimated $30 billion of investment in new renewable energy generation.
As an energy retailer with a significant market share of Australia’s electricity consumption, AGL’s developments are poised to make a noteworthy contribution to meeting the 2020 target.
AGL supports the introduction of the Commonwealth Government’s Clean Energy Future package, and specifically placing a price on carbon on 1 July 2012. AGL wants to see the bipartisan emission reduction target achieved at the lowest cost to our customers and all Australian families and businesses.
To learn more about AGL’s commitment to cleaner energy, read our 2011 Sustainability Report.
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