AGL regulated prices in line with Government freeze

AGL confirmed today that it has adhered to the Queensland State Government's regulated tariff freeze. Regulated residential Tariff 11 consumption has increased by 11.5%, in line with Government direction.

AGL's prices for residential market contract customers in South East Queensland have also increased (see table below). However, on average, these customers continue to receive a discount compared to the regulated tariff and remain better off.

AGL's figures for residential electricity market contract customers demonstrate that the average total price increase will be 15.4%, including a 2.8% increase to the daily service fee.

For an average AGL South East Queensland household, that will mean a total increase of approximately $4.40 per week. For the majority of AGL's 195,000 market contract customers, these increases will be effective in August 2012. However each customer will be individually notified in writing before the changes are implemented.

AGL is committed to a competitive Queensland electricity market, and welcomes new customers seeking a better deal to visit the AGL website.

Table: Summary of average residential customer increases

Tarrif AGL Residential Market Contract Customers Government approved regulated tariff customer increase
Tariff 11 All consumption (usage) 14.6% 11.5%
Tariff 11 Daily Service Fee 2.8% 0%
Tariff 31 (Off peak usage) 33.6% 30.3%
Tariff 33 (Off peak usage) 27.9% 25.4%
Overall AGL Residential Average Increase 15.4% 12.4%
Average annual estimated bill (incl. GST with any discount applied) $1,592 $1,639

Note: Residential Regulated Tariff 11 consumption rate has increased by 11.5%, in line with the Government's price freeze.

About AGL

AGL is one of Australia's leading integrated renewable energy companies and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on 175 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is Australia's largest private owner and operator of renewable energy assets and is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.