Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  AGL Energy Ltd    AGL   AU000000AGL7

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

AGL Energy : comments on recent market events in South Australia

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/19/2016 | 06:20am CEST

Friday, 19 August 2016

AGL Energy Limited (AGL) today provided further details to address inaccurate claims regarding recent market activity in South Australia.

On 7 July 2016, AGL Torrens had a unit out of production to complete mandatory safety and compliance work associated with operating boilers and pressure vessels. This unit had been out since 28 June 2016.

AGL Torrens has operated at significantly higher than planned levels throughout winter and AGL has been actively managing outages of units to ensure reliable supply of capacity for South Australian customers.

High spot prices in South Australia were recently driven by a number of factors. With the closure of the Northern Power Station, the State is now heavily reliant on gas generation. Through June and July there were significant constraints in the gas market particularly impacting gas fired power in the State. This included the restricted capacity of the Heywood interconnector and lack of availability of adequate gas supplies that could be transported to South Australia. These factors resulted in a $35 million negative impact to AGL, as announced to the market on 7 July 2016.

The South Australian energy market is currently undergoing a transition and AGL is actively working with governments, regulators and others in the industry to help provide access to reliable energy supplies for customers.

About AGL
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.

AGL Energy Ltd. published this content on 19 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 August 2016 04:20:03 UTC.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AGL ENERGY LTD
10/20 THE WRAP : Utilities, LNG/AUD & Infrastructure
10/13 AGL ENERGY : STEM Sisters launch at AGL Loy Yang opens world of ...
10/13 AGL ENERGY : Appendix 3F - Final share buy-back notice
10/04 AGL ENERGY : Appendix 3Y - Change of Director's Interest Notice
09/28 AGL ENERGY : Appendix 3Y - Change of Director’s Interest Notice, Jeremy ....
09/28 AGL ENERGY : Appendix 3Y - Change of Director’s Interest Notice, ...
09/28 AGL ENERGY : Appendix 3Y - Change of Director’s Interest Notice, John ...
09/27 AGL ENERGY : 2017 AGM Voting Results
09/27 AGL ENERGY : Labor says gas companies could hold Turnbull 'to ransom'
09/27 AGL ENERGY : 2017 AGM Presentations
More news
News from SeekingAlpha
08/28 How To Get To 100% Renewable Energy - Fast
2016 AGL Energy's (AGLNF) CEO Andrew Vesey on Q2 2016 Results - Earnings Call Tran..
2016 AGL Energy Ltd reports FY16 results
2016 EWA : Getting In Down Under
2015 AGL Energy Is Hitting The Sweet Spot Right Now
Financials ( AUD)
Sales 2018 13 169 M
EBIT 2018 1 666 M
Net income 2018 1 012 M
Debt 2018 3 116 M
Yield 2018 4,58%
P/E ratio 2018 16,20
P/E ratio 2019 14,28
EV / Sales 2018 1,47x
EV / Sales 2019 1,43x
Capitalization 16 271 M
Chart AGL ENERGY LTD
Duration : Period :
AGL Energy Ltd Technical Analysis Chart | AGL | AU000000AGL7 | 4-Traders
Technical analysis trends AGL ENERGY LTD
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 26,6  AUD
Spread / Average Target 7,2%
EPS Revisions
Managers
NameTitle
Andrew Martin Vesey Chief Executive Officer, Executive Director & MD
Graeme P. Hunt Chairman
Doug Jackson Executive General Manager-Group Operations
Brett Alan Redman Chief Financial Officer
Simon Moorfield Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
AGL ENERGY LTD7.29%12 714
NATIONAL GRID PLC-1.78%41 507
ENGIE17.45%41 091
ELECTRICITÉ DE FRANCE24.67%37 934
SEMPRA ENERGY13.36%28 655
E.ON48.67%26 039