Latest news with #AGL
BBC News
a day ago
- General
- BBC News
Guernsey Airport lighting upgrade closes Port Soif car park
Upgrades to hundreds of lights at Guernsey Airport will result in the temporary closure of a car Ports said overnight work to the aeronautical ground lighting (AGL) systems would replace and modernise equipment, which provides a visual guide to pilots in low said the AGL system refers to lights around the airfield, along the runway centreline and edge, as well as the taxiways and approach lights outside the airport States said Port Soif would be used as an alternative landing site for medical air transfers while the work is carried out, meaning the car park will shut each night between 19:00 and 07:00 BST until 19 June. It said the current equipment was "reaching the end of its design life"."Due to the age of the current systems, spare parts have become more difficult to source due to obsolescence, and there is a greater risk of failure as the systems continue to age," it said."The planned upgrades to the AGL system will significantly reduce the likelihood of any future disruption, which would have an adverse impact on airport operations."
The Age
3 days ago
- Business
- The Age
‘Fork in the road': How a failed nuclear plot locked in Australia's renewable future
When Australians went to the polls and voted Anthony Albanese back as prime minister, they also voted for something that will outlive the next election: the power industry's guaranteed switch from coal to renewable energy. What they didn't vote for were state-owned nuclear reactors, forced delays of coal-fired power station closures and a slew of other Coalition promises widely viewed as threats to the country's era-defining challenge of cutting harmful emissions while keeping electricity supply and prices steady. Although times remain testing in the energy sector, a feeling of relief is clear. 'The nuclear conversation is dead and buried for the foreseeable future,' said an executive at one of Australia's biggest power suppliers, who asked not to be named. Even as the Nationals keep arguing for a nuclear future, any genuine suggestion that atomic facilities could still be built in time to replace retiring coal plants after the next election rolls around was now downright 'ridiculous', said another, adding that renewable energy was on track to surpass 60 per cent of the grid by 2028. 'That's great for the energy sector – it simplifies the path forward,' they said. Make no mistake, a seismic shift across the grid has been well under way for years now. Australia's coal-fired power stations – the backbone of the system for half a century – have been breaking down often and closing down earlier, with most remaining plants slated to shut within a decade. At the same time, power station owners including AGL, Origin Energy and EnergyAustralia are joining a rush of other investors in piling billions of dollars into large-scale renewables and batteries to expand the share of their power that comes from the sun, wind and water. The federal government has an ambitious target for renewable energy to make up 82 per cent of the grid by 2030. 'There won't be a renewable energy industry in 2030; it will just be the energy industry.' Andrew Richards, Energy Users Association of Australia The task of balancing a system dominated by less-predictable renewables becomes much more challenging, and requires the multibillion-dollar pipeline of private investment in the transition to continue. But ousted opposition leader Peter Dutton, before losing the May 3 federal election and his own seat, hatched a plan to change that course dramatically. A grid powered mainly by renewables would never be able to 'keep the lights on', Dutton insisted. Instead, he declared, a Coalition government would tear up Australia's legislated 2030 emissions-reduction commitments, cut short the rollout of renewables, force the extensions of coal-fired generators beyond their owners' retirement plans and eventually replace them with seven nuclear-powered generators, built at the taxpayer's expense, sometime before 2050. For Australians who wanted to see urgent action to tackle climate change – and investors at the forefront of the shift to cleaner power – the campaign to dump near-term climate targets in favour of nuclear energy came at the worst possible time. Some likened it to a 'near-death experience' for the momentum of the shift to a cleaner, modern energy system that would have wiped out investor confidence and killed off billions of dollars of future renewable projects. 'When you reflect on the significance of energy in the campaign, it's reasonable to say this was a fork in the road,' said Kane Thornton, outgoing chief executive of the Clean Energy Council. Loading The Coalition was convinced it was onto a winner. The government had been on the nose in the polls, cost-of-living stresses were everywhere, and Australians were more worried about the size of their electricity bills than where their electrons were coming from. Dutton argued for months that nuclear plants would be the best way to keep prices down, even though almost no one agreed with him. 'I'm very happy for the election to be a referendum on energy – on nuclear,' he said. In the end, the idea proved too toxic for voters. It delivered big swings against Dutton's candidates in electorates chosen to host reactors, while support for Labor grew in many of the places selected to develop massive offshore wind farms, which the Coalition had planned to scrap. The decisive election result 'locks in' the government's ambitious push for an electricity grid almost entirely powered by renewables, said Leonard Quong, the head of Australian research at BloombergNEF. 'The Labor Party's landslide victory … is a win for climate, clean energy and the country's decarbonisation trajectory,' he said. Loading The Albanese government's plan to transform the grid as more coal-fired plants exit is backed up by modelling from the Australian Energy Market Operator. It includes accelerating the build-out of renewables, backed up by thousands of kilometres of extra power lines, storage assets such as batteries and pumped hydroelectric dams to stash clean energy for when it's not sunny or windy, and a small but essential fleet of gas-fired power stations. Over the coming decade, the government's flagship renewable energy policy, known as the Capacity Investment Scheme (CIS), is expected to underwrite the financing of enough new wind and solar farms to double Australia's renewable energy generation capacity, according to BloombergNEF, plus a seven-fold increase in storage. As things stand, Australia is on track to fall shy of its target for renewables to supply 82 per cent of the grid by 2030. But even if it does, a massive increase is still inevitable. The renewables build-out hit record speed last year, said global consultancy Rystad Energy, putting renewable sources on course to surge from 40 per cent to 65 per cent of the grid by the end of the decade. The government's ambitious targets were 'driving significant change', said Andrew Richards of the Energy Users Association of Australia, representing major manufacturers. 'There won't be a renewable energy industry in 2030 – it will just be the energy industry,' he said. Still, there are some who work in the energy sector who think the door should not be closed on nuclear power permanently. Although nuclear is not seen as a viable option for the 2030s or even 2040s (CSIRO calculates the first reactor would take at least 16 years to build), EnergyAustralia chief Mark Collette thinks the technology is at least 'worth considering' as part of a much-longer-horizon energy mix – for instance, when the next generation of large-scale wind farms retires in 20 to 25 years. There are also questions about whether there will be enough renewable energy, supported by gas, to meet ballooning demand in the 2050s and beyond, especially if the rise of electrification, electric vehicles, artificial intelligence and energy-hungry data centres overshoots current forecasts. 'The gap left by coal will be filled by renewables, but what if we've got demand [forecasts] wrong?' said Matt Rennie, co-chief executive of energy consultancy Rennie Advisory. 'This is where the long-term future for nuclear energy becomes interesting – it makes sense to have the conversation.' For now, sidelining the nuclear debate will empower the sector to double down on the investment boom into wind, solar and storage projects to get ready for a fast-approaching future without coal, energy companies say. Loading There are also hopes that it will recast the focus on big challenges that still stand in the way of a smooth transition. These include the soaring cost of building high-voltage power lines needed to connect far-flung renewable energy zones to major cities, resistance among communities asked to host new energy infrastructure, and an impending domestic shortfall of natural gas that will be needed to power a renewed fleet of gas-fired turbines. Shannon Hyde, local boss of French energy giant Engie, said policy certainty was 'good for business and investment confidence' as the company sought to progress plans for more large-scale renewable generation and storage projects in Australia. 'But local challenges remain,' he said. 'We know the energy transition will depend on a partnered approach with ambitious and purposeful governments.' For Kane Thornton, who steps down as head of the Clean Energy Council in August after 10 years, every minute spent talking about nuclear energy was a minute that could have been spent addressing matters that were 'real and important'. 'I think we will look back on this and shake our heads at it as another distraction and another chapter of the quite silly energy policy that we've debated in this country for the past decade,' Thornton said.
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
‘Fork in the road': How a failed nuclear plot locked in Australia's renewable future
When Australians went to the polls and voted Anthony Albanese back as prime minister, they also voted for something that will outlive the next election: the power industry's guaranteed switch from coal to renewable energy. What they didn't vote for were state-owned nuclear reactors, forced delays of coal-fired power station closures and a slew of other Coalition promises widely viewed as threats to the country's era-defining challenge of cutting harmful emissions while keeping electricity supply and prices steady. Although times remain testing in the energy sector, a feeling of relief is clear. 'The nuclear conversation is dead and buried for the foreseeable future,' said an executive at one of Australia's biggest power suppliers, who asked not to be named. Even as the Nationals keep arguing for a nuclear future, any genuine suggestion that atomic facilities could still be built in time to replace retiring coal plants after the next election rolls around was now downright 'ridiculous', said another, adding that renewable energy was on track to surpass 60 per cent of the grid by 2028. 'That's great for the energy sector – it simplifies the path forward,' they said. Make no mistake, a seismic shift across the grid has been well under way for years now. Australia's coal-fired power stations – the backbone of the system for half a century – have been breaking down often and closing down earlier, with most remaining plants slated to shut within a decade. At the same time, power station owners including AGL, Origin Energy and EnergyAustralia are joining a rush of other investors in piling billions of dollars into large-scale renewables and batteries to expand the share of their power that comes from the sun, wind and water. The federal government has an ambitious target for renewable energy to make up 82 per cent of the grid by 2030. 'There won't be a renewable energy industry in 2030; it will just be the energy industry.' Andrew Richards, Energy Users Association of Australia The task of balancing a system dominated by less-predictable renewables becomes much more challenging, and requires the multibillion-dollar pipeline of private investment in the transition to continue. But ousted opposition leader Peter Dutton, before losing the May 3 federal election and his own seat, hatched a plan to change that course dramatically. A grid powered mainly by renewables would never be able to 'keep the lights on', Dutton insisted. Instead, he declared, a Coalition government would tear up Australia's legislated 2030 emissions-reduction commitments, cut short the rollout of renewables, force the extensions of coal-fired generators beyond their owners' retirement plans and eventually replace them with seven nuclear-powered generators, built at the taxpayer's expense, sometime before 2050. For Australians who wanted to see urgent action to tackle climate change – and investors at the forefront of the shift to cleaner power – the campaign to dump near-term climate targets in favour of nuclear energy came at the worst possible time. Some likened it to a 'near-death experience' for the momentum of the shift to a cleaner, modern energy system that would have wiped out investor confidence and killed off billions of dollars of future renewable projects. 'When you reflect on the significance of energy in the campaign, it's reasonable to say this was a fork in the road,' said Kane Thornton, outgoing chief executive of the Clean Energy Council. Loading The Coalition was convinced it was onto a winner. The government had been on the nose in the polls, cost-of-living stresses were everywhere, and Australians were more worried about the size of their electricity bills than where their electrons were coming from. Dutton argued for months that nuclear plants would be the best way to keep prices down, even though almost no one agreed with him. 'I'm very happy for the election to be a referendum on energy – on nuclear,' he said. In the end, the idea proved too toxic for voters. It delivered big swings against Dutton's candidates in electorates chosen to host reactors, while support for Labor grew in many of the places selected to develop massive offshore wind farms, which the Coalition had planned to scrap. The decisive election result 'locks in' the government's ambitious push for an electricity grid almost entirely powered by renewables, said Leonard Quong, the head of Australian research at BloombergNEF. 'The Labor Party's landslide victory … is a win for climate, clean energy and the country's decarbonisation trajectory,' he said. Loading The Albanese government's plan to transform the grid as more coal-fired plants exit is backed up by modelling from the Australian Energy Market Operator. It includes accelerating the build-out of renewables, backed up by thousands of kilometres of extra power lines, storage assets such as batteries and pumped hydroelectric dams to stash clean energy for when it's not sunny or windy, and a small but essential fleet of gas-fired power stations. Over the coming decade, the government's flagship renewable energy policy, known as the Capacity Investment Scheme (CIS), is expected to underwrite the financing of enough new wind and solar farms to double Australia's renewable energy generation capacity, according to BloombergNEF, plus a seven-fold increase in storage. As things stand, Australia is on track to fall shy of its target for renewables to supply 82 per cent of the grid by 2030. But even if it does, a massive increase is still inevitable. The renewables build-out hit record speed last year, said global consultancy Rystad Energy, putting renewable sources on course to surge from 40 per cent to 65 per cent of the grid by the end of the decade. The government's ambitious targets were 'driving significant change', said Andrew Richards of the Energy Users Association of Australia, representing major manufacturers. 'There won't be a renewable energy industry in 2030 – it will just be the energy industry,' he said. Still, there are some who work in the energy sector who think the door should not be closed on nuclear power permanently. Although nuclear is not seen as a viable option for the 2030s or even 2040s (CSIRO calculates the first reactor would take at least 16 years to build), EnergyAustralia chief Mark Collette thinks the technology is at least 'worth considering' as part of a much-longer-horizon energy mix – for instance, when the next generation of large-scale wind farms retires in 20 to 25 years. There are also questions about whether there will be enough renewable energy, supported by gas, to meet ballooning demand in the 2050s and beyond, especially if the rise of electrification, electric vehicles, artificial intelligence and energy-hungry data centres overshoots current forecasts. 'The gap left by coal will be filled by renewables, but what if we've got demand [forecasts] wrong?' said Matt Rennie, co-chief executive of energy consultancy Rennie Advisory. 'This is where the long-term future for nuclear energy becomes interesting – it makes sense to have the conversation.' For now, sidelining the nuclear debate will empower the sector to double down on the investment boom into wind, solar and storage projects to get ready for a fast-approaching future without coal, energy companies say. Loading There are also hopes that it will recast the focus on big challenges that still stand in the way of a smooth transition. These include the soaring cost of building high-voltage power lines needed to connect far-flung renewable energy zones to major cities, resistance among communities asked to host new energy infrastructure, and an impending domestic shortfall of natural gas that will be needed to power a renewed fleet of gas-fired turbines. Shannon Hyde, local boss of French energy giant Engie, said policy certainty was 'good for business and investment confidence' as the company sought to progress plans for more large-scale renewable generation and storage projects in Australia. 'But local challenges remain,' he said. 'We know the energy transition will depend on a partnered approach with ambitious and purposeful governments.' For Kane Thornton, who steps down as head of the Clean Energy Council in August after 10 years, every minute spent talking about nuclear energy was a minute that could have been spent addressing matters that were 'real and important'. 'I think we will look back on this and shake our heads at it as another distraction and another chapter of the quite silly energy policy that we've debated in this country for the past decade,' Thornton said.
Yahoo
20-05-2025
- Business
- Yahoo
AGL Q1 Earnings Call: Membership Declines, Technology Investments, and Cautious Outlook for 2025
Healthcare services company Agilon Health (NYSE:AGL) reported Q1 CY2025 results topping the market's revenue expectations , but sales fell by 4.5% year on year to $1.53 billion. The company expects next quarter's revenue to be around $1.47 billion, close to analysts' estimates. Its non-GAAP profit of $0.03 per share was $0.02 above analysts' consensus estimates. Is now the time to buy AGL? Find out in our full research report (it's free). Revenue: $1.53 billion vs analyst estimates of $1.51 billion (4.5% year-on-year decline, 1.8% beat) Adjusted EPS: $0.03 vs analyst estimates of $0.01 ($0.02 beat) Adjusted EBITDA: $20.57 million vs analyst estimates of $17.42 million (1.3% margin, 18.1% beat) The company slightly lifted its revenue guidance for the full year to $5.94 billion at the midpoint from $5.93 billion EBITDA guidance for the full year is -$75 million at the midpoint, above analyst estimates of -$78.29 million Operating Margin: -1.4%, in line with the same quarter last year Free Cash Flow was -$35.84 million compared to -$50.92 million in the same quarter last year Customers: 491,000, down from 527,000 in the previous quarter Market Capitalization: $1.01 billion Agilon Health's first quarter results were shaped by ongoing efforts to optimize its Medicare Advantage member base and improve operating efficiency. Management attributed the reported revenue and margin performance to disciplined growth, partner and payer exits, and execution on clinical initiatives, while acknowledging that persistent cost pressures—especially in inpatient and drug spending—remained a headwind. CEO Steve Sell noted, "These results reflect the benefit of our previously disclosed partnership and payer exits, continued execution on quality and clinical initiatives, and better payer contracting terms to reduce Medicare Part D exposure." Looking ahead, agilon health's forward guidance is influenced by expectations for a more stable operating environment and ongoing initiatives to lower risk exposure and enhance clinical quality. The company highlighted opportunities stemming from favorable regulatory changes in 2026 and continued investments in technology and clinical programs. Management characterized 2025 as a transition year, emphasizing its focus on profitability, cash management, and negotiating improved payer terms to support long-term financial stability. Management's commentary highlighted the deliberate approach to managing growth and risk, as well as the continued rollout of technology and clinical programs designed to support quality care and operational efficiency. Disciplined Membership Strategy: The company's focus remained on measured growth, with membership essentially flat year over year after deliberate market and payer exits. Management explained that these actions were intended to limit underwriting risk and prioritize profitability. Reduced Part D Exposure: Agilon health further decreased its exposure to Medicare Part D (the prescription drug benefit), with less than 30% of members now carrying Part D risk. Management described this as a key step in reducing variability in financial results, noting ongoing negotiations to lower this figure further in upcoming contract cycles. Technology and Data Platform Investments: The company continued to invest in technology, such as the integration of its mphrX acquisition and enhancements to data pipelines. These upgrades have improved data visibility and analytics, supporting care coordination and real-time performance tracking across clinical programs. Expansion of Clinical Pathways: Agilon health scaled its heart failure and palliative care programs, aiming for earlier disease detection and better chronic disease management. Management reported that the palliative care initiative led to a material increase in advanced illness management enrollment and a reduction in hospital admissions per 1,000 patients. Margin Management Initiatives: The company reported progress on quality incentive programs and clinical cost management, which are expected to drive financial improvements over time. Management stated that these initiatives would provide a stronger foundation for operating leverage and long-term performance, particularly as external cost trends stabilize. Management expects 2025 to be a year of financial transition, with profitability supported by a mix of cautious member growth, lower risk exposure, and investments in quality and technology. Contract Negotiations and Rate Environment: Upcoming payer contract renewals covering roughly half of the membership are expected to drive improved terms and lower Part D risk, with management citing the 2026 CMS (Centers for Medicare & Medicaid Services) rate notice as a meaningful positive catalyst for revenue yield and margin. Clinical Program Maturation: The rollout of disease management pathways for heart failure and palliative care is expected to show greater financial and clinical impact in 2026 and beyond, as patient identification and intervention efforts mature. Cost Control and Operating Discipline: Ongoing efforts to reduce supplemental benefit risk, optimize cash management, and leverage new data systems are seen as key to maintaining margin stability despite persistent utilization pressures in inpatient and drug costs. Stephen Baxter (Wells Fargo): Asked about the V-28 risk model transition's impact on 2025 and whether it differed from prior expectations. Management responded that risk adjustment impacts were in line with projections and that prior preparation minimized disruption. Elizabeth Anderson (Evercore ISI): Questioned lingering effects from previously exited markets on current results. CFO Jeff Schwaneke indicated that most negative development from exited markets was contained to 2024, with minimal ongoing impact. Jailendra Singh (Truist Securities): Sought clarity on how the favorable 2026 CMS rate notice will flow through to agilon's contracts and when renewal terms would be finalized. Management explained that percentage-of-premium contracts would benefit directly, with most renewals still in progress. Lisa Gill (JPMorgan): Inquired about medical cost trend visibility and the drivers of elevated inpatient and drug spending. Management detailed new data pipelines improving claims visibility, and noted that inpatient admissions were higher early in the quarter but moderated by March. Matthew Shea (Needham): Asked about the potential margin impact of new clinical programs in heart failure, dementia, and COPD. Management said these programs are in early stages, with costs reflected in 2025 and benefits expected to build in 2026. In the coming quarters, the StockStory team will be tracking (1) progress on payer contract negotiations and further reductions in Part D risk exposure; (2) measurable results from the expansion of heart failure and palliative care pathways, including their impact on hospital utilization; and (3) the company's ability to maintain cost discipline and improve forecasting accuracy through its enhanced data platform. Execution on these initiatives will shape agilon health's ability to stabilize margins and position for growth in 2026. agilon health currently trades at a forward price-to-sales ratio of 0.2×. Should you double down or take your chips? See for yourself in our free research report. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
ABC News
19-05-2025
- ABC News
SafeWork SA launches criminal proceedings against AGL over 'unsafe' lead levels
SafeWork SA has lodged criminal proceedings against energy giant AGL, alleging the company exposed workers to "unsafe levels of lead" at its Torrens Island plant. Last year, the ABC revealed workers, including AGL employees, had been affected by lead exposure while working on the decommissioning project of the power station north of Adelaide. At the time, the energy giant was also accused of multiple breaches of work safety laws and regulations during its decommissioning of the station by South Australia's electrical and plumbing union. In a statement, SafeWork SA said it launched legal action in the South Australian Employment Court on May 16, following a "lengthy and complex investigation". It said AGL Torrens Island failed to comply with its health and safety duty, when its workers were allegedly exposed to unsafe lead levels during the plant's decommissioning process between October 2022 and April 2023. "This involved de-energising, or preparing to de-energise, cabling throughout the power station, allegedly exposing the workers to lead or lead dust," the statement said. "Personal protective equipment was provided — but allegedly did not include a full-face respirator. AGL has been charged with a category two offence to the Work Health and Safety Act, which carries a maximum penalty of $1.5m. "As the matter is before the courts, SafeWork SA is unable to provide any further information at this time," SafeWork said in its statement. In a statement, an AGL spokesperson confirmed the legal action had been launched and said it could not provide further comment. "AGL reported the event to SafeWork SA in May 2023 and has been working co-operatively with SafeWork SA," a spokesperson said. "Health and safety is a core value of AGL and is an integral part of the way we work. "As this is an ongoing matter, AGL cannot comment further at this time."
