CLP's EnergyAustralia boss to retire at tough time for power industry
29/04/2021 07:19
By Sonali Paul
MELBOURNE, April 29 (Reuters) - EnergyAustralia, the
country's third largest power retailer, said on Thursday
Managing Director Catherine Tanna had decided to retire after
seven years at the top and would be replaced by the head of its
customer business.
The change comes at a challenging time as Australia's power
industry grapples with the transition to cleaner energy, sliding
wholesale power prices, and government rules forcing companies
to cut electricity bills for households and small businesses.
Tanna's decision to retire follows the sudden exits of the
bosses of AGL Energy AGL.AX , Australia's biggest power
company, and Queensland state-owned Stanwell Corp in the past
week. urn:newsml:reuters.com:*:nL4N2ME490
Mark Collette will replace Tanna in July, EnergyAustralia, a
unit of Hong Kong's CLP Holdings 0002.HK , said.
"Mark is a highly experienced executive who has played a
pivotal role in positioning EnergyAustralia to navigate the
complexities of the energy transition," Chairman Graham Bradley
said in a statement.
To help meet EnergyAustralia's goal to cut carbon emissions,
Tanna in March negotiated a deal with the state of Victoria
allowing the company to shut its Yallourn coal-fired plant in
2028, four years earlier than planned. urn:newsml:reuters.com:*:nL1N2L800T
The company is due to decide soon, possibly on Friday,
whether to expand its Tallawarra gas-fired power station in the
state of New South Wales.
The Australian government has set an April 30 deadline for
companies to approve plans to build 1,000 megawatts of flexible
power capacity to replace an ageing coal-fired plant, Liddell,
set to shut in 2023. urn:newsml:reuters.com:*:nL4N2GC1HR
If industry fails to come through, the federally-owned Snowy
Hydro company plans to build a 750 MW gas-fired plant in New
South Wales.
Industry and green groups say a plant of that size is not
needed.
"The...government is taking action to protect NSW households
and businesses from high energy prices if Liddell is closed
without adequate replacement," a spokesman for Energy Minister
Angus Taylor said.
(Reporting by Sonali Paul; editing by Jane Wardell)
((Sonali.Paul@thomsonreuters.com; +61 407 119 523;))