EnergyAustralia blames $1bn loss on ‘unprecedented conditions’ amid supply issues at coal plants

Energy company says it is well placed' to take advantage of remaining opportunities' during the exit from fossil fuels

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EnergyAustralia (EA), one of the country's largest electricity producers and retailers, blamed unprecedented conditions", including supply issues at coal-fired plants, for its $1bn loss in 2022.

The company's parent, Hong Kong-based CLP, said EnergyAustralia lost $HK5.3bn ($1bn), compared with an $HK83m ($15.66m) shortfall in 2021.

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