AGL Energy Limited (AGL) notes the widespread disruption to the South Australian electricity network that has occurred since the afternoon of 28 September 2016. AGL has activated a range of responses to support affected customers and can report all its people have been safely accounted for.
AGL’s Torrens Island power station near Adelaide is progressively being brought back into the electricity network under the coordination of the Australian Energy Market Operator (AEMO), which is currently operating South Australia's electricity system in market suspension mode. Under this mode, generation pricing settles at a price pre-determined by AEMO. AGL’s wind farms also are on standby to generate, subject to network availability.
AGL notes the unprecedented scale of the blackout and the potential for further severe weather in South Australia. While ongoing assessment of the situation will be required, at this stage, AGL does not anticipate any material financial impact as a result of the outage. AGL will continue to inform the Australian Securities Exchange of any developments as necessary, consistent with its continuous disclosure obligations.
AGL is one of Australia’s leading integrated energy companies. It is taking action to responsibly reduce its greenhouse gas emissions while providing secure and affordable energy to its customers. Drawing on over 175 years of experience, AGL serves its customers throughout eastern Australia with meeting their energy requirements, including gas, electricity, solar PV and related products and services. 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, solar, landfill gas and biomass.