AGL hangs its strategy on energy demand rise, not Paris Agreement

AGL has abandoned structuring its carbon-cutting blueprint around the Paris climate agreement, instead choosing to hang its strategy on demand for electricity, which is set to double by 2050 as the economy moves to renewable power, the company’s chief financial officer says.

Speaking at the Australian Financial Review CFO Live summit, Gary Brown said electric vehicles would spark a 30 per cent increase in home electricity consumption as drivers plugged in their cars to recharge overnight.