AGL chief executive Andy Vesey has rejected coals as a solution to Australia’s energy crisis. Chief Vesey also urged the Federal Government to adopt the recommendations of the country’s chief scientist Alan Finkel, who delivered a major report on the future energy needs.
Dr Finkel recommended the adoption of a Clean Energy Target but insisted that all new renewable energy investment include some form of power storage or back-up in ensuring a stable flow of electricity. According to Vesey, AGL has decided to choose renewable energy like wind and solar which is to be backed up by gas because it is the most affordable option.
The AGL Chief also hinted that the Federal Government intervention in the gas market would be unlikely to keep energy prices lower for an extended period, arguing that the new investment in electricity generation is what was truly needed.