AGL Won’t Commit $2 Billion to Wind Farms Until Prices Rise

AGL Energy Ltd., the Australian utility building the southern hemisphere’s largest wind farm, said it will likely hold back $2 billion of additional projects until prices for renewable-energy credits increase.

“Add to that the fact that we don’t have a price on carbon and no price signal to proceed with new wind farms,” Managing Director Michael Fraser said by phone today after the company reported a 3.7 percent drop in underlying first-half profit.