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Massive losses hit EnergyAustralia as demand falls, solar soars

2014-02-28 15:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Renew Economy: EnergyAustralia, one of the big three utilities in the country, has slumped to a loss of $350 million for calendar 2013 after slashing the value of its Yallourn brown coal generator, as well as some of its gas-fired generation assets. The write-down came as the company, owned by Hong Kong based CLP Holdings, returned a profit of just $18 million (down from $236 million in 2012) for the year from its portfolio of coal and gas generation and its large retail customer base -- a result it blamed mostly...

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Category:Electronics and Electrical

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