Many targets for AGL

Summaries - Australian Financial Review
Saturday 9/5/2009 Page: 46

AGL Energy and Origin Energy are tipped to share in the carve-up of the NSW power sector when it is privatised. AGL chief Michael Fraser spoke about post-privatisation plans at the Macquarie conference in Sydney. There are no targets as apparent as the NSW power assets, although AGL has pushed hard to build up coal seam gas reserves in NSW through last year's deals with Molopo and AJ Lucas and the takeover of Sydney Gas. Much of the prime NSW coal seam acreage has been snapped up by Santos and Eastern Star Gas. AGL will have to invest heavily in wind energy to meet the government's renewable energy targets.