In an evolving energy market, AGL is guided by two key strategic imperatives: to prosper in a carbon-constrained future and to build customer advocacy as consumer expectations evolve.
As we think about how to respond to the multi-decade transition underway in the energy sector, four key objectives shape our strategy and decision-making.
- We're moving from being a mass retailer to a personalised retailer - Enabled by new technology, customers’ expectations of how they manage their energy consumption are evolving. We are continually seeking to tailor products and services to meet the needs of specific customer segments, and investing in our platforms and capabilities, including through our Customer Experience Transformation program.
- We’re transitioning from being an owner and operator of large generation assets, to an orchestrator of both large and small assets - New energy supply and storage technologies are transforming the energy industry’s asset mix. In addition to exploring opportunities presented by distributed technologies, we are exploring and trialling innovative asset ownership models, such as the Powering Australian Renewables Fund (PARF) to develop and own large-scale wind and solar projects.
- We’re moving from using high, to lower-emissions generation technology - Community expectations, global targets and technological development continue to support a transition away from carbon-intensive forms of energy supply. We are the largest ASX-listed developer of renewable energy – bringing on major new projects via PARF – and we remain committed to the closure of our coal-fred power stations at the end of their existing operating lives.
- We’re leading in existing markets and growing into new markets - The long-term transformation of the energy sector presents potential opportunities for AGL to apply its expertise more broadly and deeply, either in new areas of the energy market, in adjacent or complementary customer markets or through geographic expansion. We continue to explore opportunities actively, while applying a disciplined approach to risk assessment.