have forced owner Hong Kong-based CLP Group into the red in the June half, citing “challenging and extreme” energy market conditions in Australia.
“This has resulted in the business being short to the contract positions it has previously entered into and the business having to buy electricity in the high-priced spot market to cover these positions,” CLP said. In its first-quarter report, CLP said losses on the contracts for the March quarter totalled $HK2.5 billion, a figure that has now ballooned higher in the following two months.
Good.
Is what the cow eats the same as what the fish eats?
baseload Australia urgently needs to develop new baseload power. Poor and middle class are going to get crushed
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