AGL Energy Limited (AGL) has announced detailed plans to evolve its business to meet changing consumer needs.
AGL’s Head of Group Strategy and New Energy, Marc England, says the way we source, consume and pay for energy is changing and this is largely led by increasingly energy conscious and energy literate consumers.
"The key drivers of this transformation are disruptive technologies, higher prices, and policies encouraging competition," said Mr England.
"In order to meet changing consumer needs AGL has to adapt its business model to have a more varied offering. We are an integrated energy company with a diverse power generation portfolio and our new energy strategy around disruptive technologies adds to this diversity," he said.
"To remain competitive in this changing and challenging landscape energy companies must innovate and focus on creating choice for consumers. AGL has a history of re-inventing energy for over 175 years in order to meet customer needs and harness new technologies. Our new energy strategy continues that trend. Our aim is to have a presence in one million Australian homes and businesses by 2020."
To help achieve this AGL will invest in the growing suite of empowering technologies including launching a digital metering business next year as well as expanding its solar business, including offering more flexible methods of financing and paying for solar. AGL will also explore more ‘in home’ energy services such as energy/battery storage and electric vehicles.
In a speech Mr England will deliver at the Australian Utilities Week conference in Melbourne tomorrow he will explain how AGL intends to provide consumers with a home energy ecosystem empowering them with the smart and insights to have choice, flexibility and control of their energy usage, at as low a cost as possible.
AGL estimates by the late 2020’s up to one third of Australian households will be partially or fully off-grid.
"We will see a co-existence of the existing grid and disruptive technologies such as batteries, digital meters and solar PV. Consumers will increasingly have multiple options to choose from when sourcing their energy and AGL plans to play a leading role in this evolving energy market," said Mr England.
AGL is one of Australia's leading integrated energy companies and largest ASX listed owner, operator and developer of renewable energy generation in the country. 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 taking action toward creating a sustainable energy future for our investors, communities and customers.