Mike Cannon-Brookes dismisses PM’s suggestion that coal plants should run to end of scheduled life

Tech billionaire bidding for AGL says ‘the private market is stepping up and providing replacement capacity exactly as asked’

Mike Cannon-Brookes has rejected a suggestion by Scott Morrison that a plan to shut AGL Energy’s coal power plants early would push up electricity bills, with the tech billionaire arguing fossil fuel generators are increasingly unreliable and new solar and wind lowers prices for consumers.

Morrison on Monday responded to a proposed joint takeover of AGL by Cannon-Brookes and the Canadian asset management giant Brookfield. The prime minister said the government wanted coal plants to run until the end of their scheduled operating life and he was “very committed to sweating those assets” to ensure a reliable electricity supply at affordable prices.

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