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CLP to shelve proposed Australian gas power plant

EnergyAustralia, a unit of Hong Kong-based utility CLP Holdings, said today it has shelved construction of a 1000 megawatt gas-fired power plant in Victoria due to a lack of electricity demand.

The decision comes after rival AGL Energy in October said it was suspending indefinitely construction of a similar-sized plant in neighbouring New South Wales estimated to cost over $1 billion for the same reason.

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