AGL Energy

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AGL Energy Limited

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(Australian:AGL)
Contact Information
AGL Energy Limited
Level 22, 101 Miller St.
North Sydney 2060, Australia
Tel. +61-2-9921-2999
Fax +61-2-9921-2772

Type: Public
On the web: http://www.agl.com.au

AGL Energy emerged from the Australian Gas Light Company (Australia's oldest energy company, founded in 1837). AGL Energy is the country's major electricity retailer. It is also a top gas retailer and distributor in Australia. AGL Energy retails gas to 1.4 million customers and electricity to 1.8 million customers. Its residential and small business customers are located in New South Wales, South Australia, and Victoria, while its commercial and industrial customers are primarily in Queensland. AGL Energy is also a leading renewable energy company.

Officers:
Chairman: Jeremy Maycock
Managing Director and CEO: Michael A. Fraser
CFO: Stephen J. Mikkelsen

Competitors:
Duke Energy
International Power
Origin Energy

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AGL Energy Limited
Type Public (ASX: AGK)
Industry Energy
Founded 2006
Headquarters North Sydney, Sydney, Australia
Key people Michael Fraser (CEO)
Products Energy
Website agl.com.au

AGL Energy (ASXAGK) is the largest Australian gas and electricity retailer, with over six million customers. It has large investments in the supply of gas and electricity, and has recently[when?] invested in sustainable energy businesses such as wind farms and a hydroelectric power station in Victoria’s High Country.[1] Listed on the Australian Securities Exchange (ASX code: AGK), AGL is an S&P/ASX 50 company with a market capitalisation of about A$4.8 billion.

On 6 October 2006, Australian Gas Light Company and Alinta Limited shareholders approved the merger of AGL’s infrastructure assets with Alinta and the subsequent separation of AGL Energy.

Contents

Operations

Torrens Island Power Station in Adelaide is AGL's largest gas plant.

AGL has become one of the largest providers of electricity in Australia and is well known for being one of the largest employers nationally.[2] AGL seeks to take cornerstone positions in four areas – upstream electricity and gas supply, and the downstream retail of electricity and gas.

Electricity generation

AGL’s 1700MW electricity generation portfolio includes:

  • 32.5% stake in coal-fired Loy Yang Power Station (Vic)
  • Gas-fired peaking plant at Somerton
  • Torrens Island Power Station (TIPS)
  • AGL Hydro’s 11 generating schemes
  • Wattle Point Wind Farm
  • Small-scale biomass, landfill and cogeneration projects
Source Capacity
Loy Yang A (32.5% equity) 2120MW
Somerton 150MW
Pinjarra 1&2 (33% equity) 280MW
Victoria Hydro 592MW
NSW Hydro 52.5MW
Torrens Island Power Station 1280MW

Projects under way include:

  • Bogong hydro peaking station (Vic)
  • Hallett Wind Farm (SA)
  • Hallett Hill Wind Farm (SA)
  • Macarthur Wind Farm (Vic)
  • Base-load power station in Townsville (QLD)
  • Leafs Gully Power Station (NSW)

Gas generation

AGL’s wholesale gas portfolio includes more than 4000 petajoules of equity and contracted gas reserves, with long-term contracts sourced from the Cooper, Surat and Gippsland basins. Other investments include a 50 per cent stake in Moranbah Gas Project, one of Australia’s largest coal-seam methane projects. Moranbah’s output represents about 12 per cent of the Queensland gas market. A 27.5 per cent stake in the Queensland Gas Company

Source Amount of gas
Cooper Basin 605PJ
Surat Basin 1222PJ
Gippsland Basin 1250PJ
Sydney CSM (50% equity) 145PJ
Moranbah (50% equity) 16PJ

Gas usage: 1 million gigajoules (GJ) = 1 petajoule (PJ) An all-gas household, with gas used for cooking, heating and hot water, will use about 30GJ of gas a year.

Downstream electricity retail

1.6 million electricity customers – more than 25 per cent of South Eastern Australia’s residential and small commercial energy users.

Downstream gas retail

2.1 million gas customers

Energy investments

AGL has a diversified range of investments in generation, transmission, distribution, retail and energy related businesses:

  • ActewAGL (50%), Elgas (50%), H C Extractions (HCE) (100%), and the owner of Loy Yang Power, GEAC (32.5%).

AGL Energy (AGL) has entered into conditional arrangements for the construction of Macarthur wind farm in south-west Victoria.[citation needed]

In 2011 AGL paid $15M for Rezeko a small Australian solar retailer in a bid to bump up its presence it that lucrative market[3]. The investment is yet to pay any material dividends and is yet to compete with [Origin Energy's|Origins] retail solar business.

See also

References

External links


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