AGL Energy Limited’s commitment to invest heavily in the power station will secure the future of the newly-named AGL Macquarie in Muswellbrook.
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AGL recently completed the $1.5 billion acquisition of the Macquarie Generation (MacGen) assets, including Bayswater and Liddell, from the NSW Government.
The move also safeguards the jobs of 650 employees for the time being.
The MacGen operations will transition to form part of AGL’s Merchant Energy business, headed by group general manager Anthony Fowler.
Managing director and CEO Michael Fraser said, as a result of the acquisition, Macquarie Generation chief executive Steve Saladine would leave MacGen this weekend.
Scott Thomas, currently AGL’s general manager business customers, has been appointed to the role of AGL Macquarie general manager.
“Steve has been heavily involved with the NSW generator sale process,” Mr Fraser said.
“I would like to thank him and his leadership team for their professionalism during the MacGen sale process and transition of ownership to AGL.
“I’d also like to acknowledge Steve’s outstanding contribution to the Australian power industry in a career spanning more than 35 years, including a variety of senior leadership positions.”
Mr Fowler told the Muswellbrook Chronicle it was an exciting day for AGL.
“We are very pleased to have the people and assets of MacGen in the AGL portfolio,” he said.
“They join a company with a rich Australian history going back 177 years, offering experience and diversity of employment across a range of generating assets and disciplines.
“It’s a logical extension of our business.”
Mr Fowler admitted there were exciting opportunities ahead.
“We still see a future for Liddell – and hope it runs to its expected life in 2022,” he said.
“We’ll also spend $400 million over four years to return MacGen to the highest standards.
“The AGL acquisition will provide greater certainty for the workforce too.
“We’ll honour all commitments previously given by the NSW Government to employees in respect of security of employment and entitlements.”
Mr Fowler said there would be minimal structural changes at MacGen while AGL takes time to learn about the business and determine how best to integrate it with AGL.
“We’ll operate MacGen with an emphasis on continuity as the business is gradually integrated with AGL over time,” he said.
“Over the next 30 to 60 days, Scott [Thomas] will sit down with staff and hear what they have to say.
“That’s an important process.
“And, so far, we’ve been impressed with the knowledge and expertise of the employees.”