AGL
AGL is absolutely leading the decarbonisation effort. That’s good.
I’m just not sure there’s any profit in it, for the marginal investor, at a level of risk that’s commensurate with the undertaking. That’s bad.
I’m also not sure (and I have felt this way for 17 years now) that it is worth the effort to understand the cashflows, the hedge book, beyond periods in which the utilities (here ORG and AGL) are incredibly and obviously cheap.
We had some of that when ORG traded with a $4 handle, and exited towards the $6’s.
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