AGL Energy is Australia’s leading energy provider and the only Australian energy producer with a full suite of renewable generation, providing natural gas and electricity to more than six million Australians.
AGL is striving to be a world-class integrated energy company, with major investments in the supply of gas and electricity, as well as a substantial base of customers across Australia.
AGL is committed to leading Australia in minimising the effects of climate change, investing in sustainable energy businesses such as wind farms and innovative environmentally friendly projects such as the underground Bogong hydroelectric power station in Victoria’s High Country.
Listed on the Australian Securities Exchange (ASX code: AGK), AGL is an S&P/ASX 50 company with a market capitalisation of about A$5.2 billion. The company has been operating in Australia for 170 years and was one of its first listed companies.
AGL maintains a BBB investment grade credit rating from Standard & Poor’s.
History
The Australian Gas Light Company (AGL) was formed in Sydney in 1837. It supplied gas for the first public lighting of a street lamp in Sydney in 1841 and was the second company to list on the Australian Stock Exchange.
On 6 October 2006, AGL and Alinta Limited shareholders approved the merger of AGL’s infrastructure assets with Alinta and the subsequent separation of AGL Energy.
This was subsequently approved by the Federal Court of Australia on 9 October 2006, and AGL Energy began trading on the Australian Stock Exchange on 12 October 2006.
Customers
More than 6 million Australians use AGL’s gas and electricity, including leading brands such as Coopers Beer and Arnott’s biscuits.
Commitment to fight climate change
AGL was the first Australian energy company to provide an accredited Green energy product, and was the first Australian company to join the Chicago Climate Exchange, the world’s first carbon trading exchange.
In joining the CCX, AGL has committed to a 6% reduction in emissions, based on 1998/2001 levels. It is the only Australian energy company which has imposed such strict carbon limits on itself.
AGL commands a pre-eminent position in preparation for a future carbon-constrained world. In little more than 12 months the company has committed to invest more than $2 billion in renewable generation and has under construction a number of wind and new hydro facilities.
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