AGL Energy Limited (AGL) today confirmed that price reductions will flow through to residential and small business customers, if the carbon repeal legislation is passed by the Federal Parliament.
AGL will continue to work with the government and regulators to deliver these reductions to customers.
AGL will ensure the appropriate backdating of reductions are applied to customer accounts. AGL understands the legislation as drafted requires backdating to 1 July 2014.
Group General Manager Retail Energy, Stephen Mikkelsen, said that AGL is working hard to ensure that customers will see price changes come through as soon as possible following repeal of the carbon tax.
“As we have said previously, AGL will ensure the associated price reductions are passed on to customers if the carbon tax is repealed,” said Mr Mikkelsen.
The Energy Supply Association of Australia, Energy Retailers Association of Australia and National Generators Forum have also said if the Parliament is to repeal the carbon tax, a swift decision in July 2014 is the best outcome for customers.
Price changes for AGL’s commercial and industrial customers will be in line with their individual contracts with 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 over 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.