•   
  •   

Money Electricity price rises power AGL profit

15:51  08 february  2018
15:51  08 february  2018 Source:   smh.com.au

Exclusive - How Tesla's first truck charging stations will be built

  Exclusive - How Tesla's first truck charging stations will be built Exclusive - How Tesla's first truck charging stations will be builtBut Reuters has learned that Tesla is collaborating with Anheuser-Busch (ABI.BR), PepsiCo (PEP.O) and United Parcel Service Inc (UPS.N) to build on-site charging terminals at their facilities as part of the automaker's efforts to roll out the vehicle next year.

Profit at AGL , Australia’s largest electricity generator, have surged by 194% to .59 billion as power bills to consumers keep rising . “This increase in prices in the broader electricity market has mostly been a result of the abrupt closure of non- AGL power stations such as Hazelwood in 2017 and

Profit at AGL , Australia’s largest electricity generator, have surged by 194% to .59 billion as power bills to consumers keep rising . “This increase in prices in the broader electricity market has mostly been a result of the abrupt closure of non- AGL power stations such as Hazelwood in 2017 and.

Underlying profit jumped 26.7 per cent to $493 million in the same period, from $389 million.© Bloomberg Underlying profit jumped 26.7 per cent to $493 million in the same period, from $389 million. AGL has recorded a 91 per cent leap in profits as the company rides the wave of increasing wholesale electricity prices.

The company's statutory profit almost doubled to $622 million in the six months to December 31, from $325 million in the December 2016 half.

Underlying profit jumped 26.7 per cent to $493 million in the same period, from $389 million.

Much of the increase was driven by rising wholesale electricity prices. Energy prices increased 12.3 per cent over 2017.

AGL's gross revenue increased 7 per cent to $6.45 billion, from $6.03 billion previously.

UNICEF recruits gamers to mine cryptocurrency for Syrian kids

  UNICEF recruits gamers to mine cryptocurrency for Syrian kids It hopes to appeal to young people's desire to do social good.Game Chaingers uses your graphics card's power to mine for cryptocurrency, which then goes straight to UNICEF's account. Of course, the more participants there are, the more coins it can mine -- if the hundreds of millions of gamers around the world help out, the organization can raise a considerable amount. UNICEF says it created the project out of a need to find new donors, since most of its benefactors are already over 50. By asking to borrow PCs' processing power instead of straight-out appealing for cash, even those who wouldn't usually give to charities could contribute.

Low electricity prices are making it less profitable to be a power plant operator. Companies that sell electricity to utilities, such as Dynegy Corp., Calpine Corp and NRG Energy Inc., reported slim profits or losses in the third quarter compared to the same period a year ago

Electricity price rises locked in from July 1, 2017. POWER prices are set to rocket after retailers announced increases of up to 20 per cent and Origin, EnergyAustralia and AGL have all announced price increases for electricity and gas starting from July 1. Small businesses may be the hardest hit

Dividends also leapt by nearly a third to reach 54 cents, 80 per cent franked, from 41 cents previously.

AGL reaffirmed that it expects underlying profit for fiscal 2018 between $940 million and $1.04 billion, in line with analysts' consensus forecast for a profit of $1.02 billion.

Power prices have soared in Australia as domestic producers shifted more gas to exports, making electricity supply and power prices a key electoral issue.

Prime Minister Malcolm Turnbull last year ordered state governments and gas giants to shore up gas supplies to east coast consumers or face strict export limits.

AGL, which has been blamed for being one of the biggest culprits of carbon pollution in Australia, has committed to gradually ditch coal for gas and renewable power.

It recently rejected extending the life of its coal-fired Liddell plant beyond 2022, saying that power from gas, wind and solar would be cheaper to produce.

with Reuters

JB Hi-Fi margins under threat from Amazon .
Morningstar analysts have forecast JB Hi-Fi's operating margins to be flat over the next decade as Amazon ramps up competition.JB Hi-Fi's profit soared 37 per cent to a record $152 million in the first half of the financial year, but analysts at Morningstar say the company's full-year earnings forecast shows signs of strain from increasing competition.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!