AGL Energy Limited (AGL) has won the Mid-Capitalisation category of the Platinum Edison Electric Institute (EEI) Asia-Oceania Index Award.
The EEI Asia-Oceania Index Awards are presented to Asian and Oceanian utilities that have achieved the highest total shareholder return in the Large-, Mid-, and Small-Capitalisation categories with the highest three-year returns through 30 June 2016.
The award reflects superior and sustained financial performance as determined by rigorous financial indicators for 44 companies in the region over a three-year period.
AGL Managing Director & CEO Andy Vesey said: “We’re honoured to be recognised by EEI for the award. AGL’s financial performance in recent years through to the 2016 results reflected AGL’s strong performance amid an evolving industry.
“AGL delivered a Total Shareholder Return (TSR) in FY16 of 22 percent, compared with negative two percent for the S&P/ASX100 Index. Return on Equity (RoE) increased to 8.3 percent from 7.6 percent. AGL’s five-year TSR has been 77 percent compared with 48 percent for the ASX100.”
“This award is acknowledgement of our strong financial position and delivery on strategy.
“Also integral to our strategy is building customer advocacy. The energy market is evolving as we transition to a low emission economy and consumer’s preferences and expectations are also changing in respect of how and when they choose to consume, and now produce, energy.
“To enhance our customer’s experiences, we have committed to a $300 million customer experience transformation program which has a digital first approach. It will support the launch of innovative offerings and enable customers to engage with us how, where and when suits them best,” said Mr Vesey.
The award was presented at the EEI’s 2nd Annual International Utility Executive Summit on 5 April 2017 in Washington, D.C.
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.