AGL Energy has announced a corporate restructure that will give its nascent New Energy division – including solar, storage and electric vehicles – equal billing with its incumbent wholesale and retail operations.
The new structure will see New Energy emerge as one of seven core business units, alongside energy market operations and other administrative operations. A division with zero revenue to date is ranked equally with one with more than $10 billion in annual receipts.
“The industry is rapidly changing and faces significant challenges,” newly appointed CEO Andrew Vesey said in a statement. Vesey, who took over from Michael Fraser just over a month ago, has previously flagged a focus on the technologies that will usher in a massive transformation in the energy sector. … (Renew Economy)
Our comment:
Don’t miss out, as the price for ‘old’ technology, such as power from coal, can only go up while renewables will keep getting pre affordable year after year.