---
title: AGL suffers heavy losses amid coal-fired power plants woes
description: nergy giant AGL has posted a $1.1 billion half-year loss, sending its shares tumbling.
---
[](https://www.greenpeace.org.au)
[](https://blog.greenpeace.org.au/the-canopy)
The Canopy is a weekday morning email newsletter provided by the team at Greenpeace Australia Pacific.
# AGL suffers heavy losses amid coal-fired power plants woes
Friday, 10 February 2023
Energy giant AGL has posted a $1.1 billion half-year loss, sending its shares tumbling. The loss was largely attributed to a string of breakdowns across AGL’s fleet of ageing coal-fired power plants. AGL brought forward their coal closure deadlines to 2035, 13 years earlier than originally planned, after [Greenpeace exposed it as Australia’s biggest climate polluter.](https://act.greenpeace.org.au/agl#:~:text=AGL%3A%20Australia's%20Biggest%20Climate%20Polluter,polluter%20by%20a%20long%20shot.)
It has been revealed the former energy minister asked his department to consider delaying telling voters about electricity price rises before the May election, then made the decision to do so. Angus Taylor told the media in October he didn’t know about incoming price rises, but The Guardian has revealed he did.
And the federal government has ruled out using the rejection of a coal mine in Queensland as a precedent for other coal and gas projects. Federal Environment Minister Tanya Plibersek announced on Wednesday that Clive Palmer's Central Queensland Coal Project had been blocked, citing environmental concerns.
[**AGL slumps to heavy loss**](https://www.smh.com.au/business/companies/power-giant-agl-sinks-to-1-1b-half-year-loss-20230208-p5cj2h.html)
Energy giant AGL told investors on Thursday it had sunk to a $1.1 billion half-year loss on the back of what it called a “challenging” final six months of 2022, sending its share price plunging more than 10 per cent. AGL is [planning a major push](https://reneweconomy.com.au/agl-looks-to-evs-batteries-and-rooftop-solar-as-it-goes-local-and-digests-massive-loss/) into EV home charging, battery storage and rooftop solar as it switches to renewables.
[**Angus Taylor behind decision to delay energy price rise report until after 2022 election**](https://www.theguardian.com/australia-news/2023/feb/10/angus-taylor-behind-decision-to-delay-energy-price-rise-report-until-after-2022-election)
The former energy minister, Angus Taylor, asked his department to consider delaying telling voters about electricity price rises before the May election, then made the decision to do so. It has also been revealed that then prime minister, Scott Morrison, was informed by treasurer, Josh Frydenberg, that he had given Taylor power to delay notification of the price rise.
[**Rejection of Clive Palmer coal mine will not affect other proposals, federal government says**](https://www.abc.net.au/news/2023-02-09/clive-palmer-coal-mine-rejection-no-precedent-federal-government/101950484)
A major coal mine has been rejected under national environment laws for the first time in history this week, but the federal government insists a precedent has not been set.
[**WA lashed over rock art heritage bid**](https://www.theaustralian.com.au/nation/politics/wa-lashed-over-rock-art-heritage-bid/news-story/59fa81fc87d6d1fb97bb55eaed2aa930)The Australian archaeologist who first identified the scientific significance and extent of the Burrup Peninsula’s rock art has slammed the West Australian government’s handling of the region ahead of a proposed World Heritage listing for the site. Woodside Energy is trying to expand its dirty LNG projects in the area.
[**Shell directors personally sued over ‘flawed’ climate strategy**](https://www.theguardian.com/environment/2023/feb/09/shell-directors-personally-sued-over-flawed-climate-strategy)
The directors of oil major Shell are being personally sued over their climate strategy, which the claimants say is inadequate to meet climate targets and puts the company at risk as the world switches to clean energy.
[**Solar and wind investment jumps 50 per cent in 2022**](https://www.energymagazine.com.au/solar-and-wind-investment-jumps-50-per-cent-in-2022/#:~:text=Large%2Dscale%20wind%20and%20solar,GW%20of%20renewable%20energy%20capacity.)Australian businesses and households made massive investments in renewable energy in 2022, according to recent data from the Clean Energy Regulator (CER).
[**Sydney Mining Club deal with Gina Rinehart’s company raises questions about who really funds politics**](https://www.abc.net.au/news/2023-02-10/hancock-prospecing-to-liberal-party-sydney-mining-club/101915486)Gina Rinehart's company, Hancock Prospecting Pty Ltd, was behind a $150,000 payment to the Liberal Party, transferred via a third party, and not declared by the mining giant by the November 17, 2022 deadline.
[**Automotive sector on track to overshoot 1.5 degrees**](https://www.theaustralian.com.au/life/motoring/ev-adoption-not-enough-for-auto-sector-to-meet-15degree-warming-limit/news-story/5cc7df49869b068dd65c446f3eb64512)Emissions from the automotive industry are on track to overshoot the United Nations’ global warming target by at least 75 per cent, according to a new report.
[**This is the world's first zero-waste island. Could Australia be next?**](https://www.sbs.com.au/news/article/this-is-the-worlds-first-zero-waste-island-could-australia-be-next/78mnxsky2)In 2021, Tilos, a tiny Greek island without an airport, claimed to be the first zero-waste island on earth. Australia's record when it comes to recycling and creating a circular economy pales in comparison.
[Coal](https://blog.greenpeace.org.au/the-canopy/tag/coal), [energy policy](https://blog.greenpeace.org.au/the-canopy/tag/energy-policy), [Electric vehicles](https://blog.greenpeace.org.au/the-canopy/tag/electric-vehicles), [Oil](https://blog.greenpeace.org.au/the-canopy/tag/oil), [fossil fuel](https://blog.greenpeace.org.au/the-canopy/tag/fossil-fuel), [renewables](https://blog.greenpeace.org.au/the-canopy/tag/renewables), [activism](https://blog.greenpeace.org.au/the-canopy/tag/activism)
### Will you share with your friends?
[Share on Facebook](http://www.facebook.com/share.php?u=https://blog.greenpeace.org.au/the-canopy/agl-suffers-heavy-losses-amid-coal-fired-power-plants-woes%3Futm_medium%3Dsocial%26utm_term%3Dsocial%2Bshare%26utm_source%3Dfacebook) [Share on Whatsapp](whatsapp://send?text=Check%20out%20this%20thing%20from%20Greenpeace!%20https://blog.greenpeace.org.au/the-canopy/agl-suffers-heavy-losses-amid-coal-fired-power-plants-woes%3Futm_medium%3Dsocial%26utm_term%3Dsocial%2Bshare%26utm_source%3Dwhatsapp) [Share on Twitter](https://twitter.com/intent/tweet?original_referer=https://blog.greenpeace.org.au/the-canopy/agl-suffers-heavy-losses-amid-coal-fired-power-plants-woes%3Futm_medium%3Dsocial%26utm_term%3Dsocial%2Bshare%26utm_source%3Dtwitter&url=https://blog.greenpeace.org.au/the-canopy/agl-suffers-heavy-losses-amid-coal-fired-power-plants-woes%3Futm_medium%3Dsocial%26utm_term%3Dsocial%2Bshare%26utm_source%3Dtwitter&source=tweetbutton&text=)
[Go to the website](https://www.greenpeace.org.au/)
## More news
### [Closure of Australia’s biggest coal-fired plant no threat to power](https://blog.greenpeace.org.au/the-canopy/closure-of-australias-biggest-coal-fired-plant-no-threat-to-power)
As the New South Wales government decides on whether to extend the life of Australia’s biggest...
### [Climate activist commended by magistrate after protesting Woodside’s Burrup Hub](https://blog.greenpeace.org.au/the-canopy/climate-activist-commended-by-magistrate-after-protesting-woodsides-burrup-hub)
An environmental activist has been convicted and fined after spray painting a Perth police station...
### [Plastic bag ban is paying off for Sydney Harbour](https://blog.greenpeace.org.au/the-canopy/plastic-bag-ban-is-paying-off-for-sydney-harbour)
Seabin - an environmental project that filters the water in Sydney Harbour to capture microplastics...
Work like this is only made possible by our supporters. Greenpeace accepts NO government funding or corporate donations to remain impartial. To amplify meaningful climate activism in Australia, ***become a regular giver today.***
[Donate to Support Greenpeace](https://donate.greenpeace.org.au/)
[](https://www.greenpeace.org.au/)
Connect with us
**Call:** [1800 815 151](tel:1800815151)
Our team acknowledges that we meet and work on the land of the Gadigal people of the Eora Nation. We wish to pay respect to their Elders — past, present and future — and acknowledge the important role all Aboriginal and Torres Strait Islander people continue to play within Australia, the environmental movement and the Greenpeace crew.
© Greenpeace 2026. [Privacy Policy.](https://www.greenpeace.org.au/privacy-policy/)