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    Yesterday

    A stockpile of coal at Eraring Power Station.

    Eraring set to benefit from high electricity prices

    Origin may not need to tap the $225 million compensation fund unveiled by the NSW government this week.

    • Elouise Fowler

    This Month

    Origin owns Eraring power station.

    Why NSW still needs coal-fired power

    The total disarray of energy transition plans is compounded by the failure of NSW and Victoria to allow any further development of gas fields.

    • Jennifer Hewett
    Karoon Energy chairman Peter Botten has been accused of “paying lip service to concerns about shareholder value”.

    Karoon Energy suffers ‘first strike’ as activists land a blow

    More than 26.25 per cent of proxy votes were cast against its executive pay regime ahead of the company’s annual general meeting in Melbourne.

    • Updated
    • Sarah Thompson, Kanika Sood and Emma Rapaport
    Origin Energy chief executive Frank Calabria has made sure his shareholders got the better of the risk/reward balance.

    Why NSW had to underwrite Origin’s coal-fired plant

    NSW cannot afford to allow Origin Energy to shut Eraring Power Station, so it has offered up a generous insurance policy.

    • Anthony Macdonald

    NSW pays to keep coal firing | Nvidia’s share price is about to plummet | Sunak’s election gamble

    Read everything that’s happened in the news so far today.

    • Updated
    Advertisement
    The Florence tunnel boring machine is jammed again.

    Florence, the Snowy 2.0 machine, is stuck again

    Snowy Hydro does not know how long it will take to restart the Florence boring machine on its $12 billion Snowy 2.0 pumped hydro scheme after it stopped tunnelling.

    • Jenny Wiggins
    Joshua Thurlow, chief executive lithium at diversified miner Mineral Resources (MinRes).

    EVs need to move mainstream to drive transition minerals

    When an electric vehicle can compete at the same price point as an entry-level internal combustion engine, Australia’s future as a key supplier of transition minerals will be secured.

    Sponsored 

    by Westpac

    Chevron’s Gorgon liquefied natural gas plant on Barrow Island

    Gas industry hawks its carbon credentials

    Barrow Island and its inhabitants of kangaroos, perentie lizards and rare native fauna is also home to the world’s largest dedicated carbon capture and storage project.

    • Jennifer Hewett
    Fortescue executive chairman Andrew Forrest.

    Andrew Forrest’s Fortescue is now a software firm as well

    Fortescue has signed a deal to sell software to Jaguar Land Rover’s electric vehicles, as the iron ore giant’s energy arm branches out in new directions.

    • Hans van Leeuwen
    Incitec Pivot CEO Mauro Neves.

    Incitec’s Indonesian suitor has investors brushing up on Cooper’s woes

    Indonesian state-owned businesses have not traditionally been major investors in Australia. When they have invested, it has not always turned out well.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    Furious about dismissal: Damien Glanville, former CEO of LPE.

    Chapman fields calls for in-play Queensland electricity provider LPE

    The embattled Sunshine Coast-based business has called in Chapman Capital Partners and King & Wood Mallesons to mount a defence.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    The hydrogen industry is buoyed by the government’s multibillion-dollar suite of support measures in the budget.

    No more buzz – hydrogen is finally trying to get real

    At the World Hydrogen Summit this year, vaulting ambition began giving way to pragmatism and a paring back of priorities.

    • Hans van Leeuwen
    GPG Australia’s assets include 96MW Crookwell 2 wind farm, near Goulburn in New South Wales.

    Big four, Japanese banks circle GPG Renewables’ $1.6b refinancing

    Sources said GPG is in advanced discussions with several banks to come in on a $1.1 billion refinancing of its existing facilities.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    The C4 unit at Callide power station in Queensland blew up in May 2021.

    Queensland in secret bid to buy stricken coal-fired power plant

    It’s three years since Queensland power station Callide C blew up, and the fallout hasn’t stopped. Now, a secret deal for the government to buy a 50 per cent stake is in doubt.

    • Anthony Macdonald
    Karoon Energy’s Who Dat oil and gas operation in the US Gulf of Mexico.

    Karoon chairman preps for showdown with angry investors

    An activist consortium led by Samuel Terry Asset Management intends to vote against five of the nine resolutions up for vote at the oil and gas producer’s AGM on May 23. 

    • Elouise Fowler
    Advertisement

    Santos will sack 200 people as project delays spoil returns

    The reliance on new projects such as Barossa in the Timor Sea takes on greater importance at Santos, where many of its legacy assets are being depleted.

    • Vesna Poljak
    Fortescue’s energy boss Mark Hutchinson.

    ‘Back in the game’: Hydrogen sector celebrates from afar

    Almost 50 Australian companies were in Rotterdam for the World Hydrogen Summit. When news of the budget bonanza came through, the reaction was ecstatic.

    • Updated
    • Hans van Leeuwen
    To justify its somewhat pessimistic price forecasts, Treasury argues that Chinese demand for steel has likely peaked, while the recovery in the supply of iron ore and metallurgical coal has put downward pressure on prices.

    Pessimistic iron ore, coal forecasts give Chalmers room to wriggle

    Treasury assumes that iron ore and coal prices will fall from their present elevated level back to their long-run levels by the end of the March quarter in 2025.

    • Karen Maley
    Karoon Energy chief Julian Fowels addressed a packed room at the Macquarie Australia Conference last week.

    Karoon Energy finds sell-side backers ahead of pivotal AGM

    Barrenjoey energy and utilities analyst Dale Koenders has voiced support for continued growth via M&A in a note seen by Street Talk.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    Engie’s CEO for Australia and New Zealand Rik De Buyserie.

    France’s Engie powers up for partner search at Victorian solar farm

    Engie has shortlisted a blue-chip lender lineup, including ANZ Group, BNP Paribas and Deutsche Bank, to stump up Goorambat’s debt financing.

    • Sarah Thompson, Kanika Sood and Emma Rapaport