Know Everything about AGL Sydney
AGL or AGL Energy is an Australian company well known for doing business in energy generation through various energy resources like solar, wind, coal, gas, hydro and thermal power.
They are also involved in the distribution and retailing business of electricity and natural gas.
The company at present is under the leadership of Brett Redman, CEO with 3,714 employees. In 2018, they generated the revenue of A$12.857 billion with the accumulation of net income A$1.023 billion.
When AGL started its business in Australia?
AGL Energy was formerly known by naming the Australian Gas Light Company which came into existence in 1837. In 1841, it was introduced in Sydney to light the street lamps.
This achievement brought AGL the title of being the second company to get listed on the Sydney Stock Exchange. Consistently, they stepped towards expansion joining hands with ACTEW Corporation in 2000 and forming ActewAGL.
This newly formed utility went for the supply of natural gas, electricity and telecommunication services on a
commercial and residential basis.
They serve in the New South Wales, South Australia, South East Queensland, Victoria, and the Australian Capital Territory.
In 2006, the company performed another merge with Alinta Ltd forming AGL Energy and Alinta Ltd. Loy Yang A Power Station, Loy Yang coal mine and Macquarie Generation were acquired by AGL Energy in 2012 and 2014.
AGL has also worked on the prospectus of saving energy resources by closing down the coal operated Liddell Power Station in 2022. Recently, they stood in support of the Energy Charter to offer customers the best deal in energy use in 2018.
Are they dealing with energy sources?
AGL Energy customer's account more than 3.6 million with a vision to go for affordable, sustainable and secure energy.
AGL uses renewable sources like hydro, landfill gas, biomass, solar and wind for electricity generation with some traditional ways including thermal generation and natural gas storage.
What contribution do they make to fulfill energy needs?
AGL Energy operates the business of the largest electricity generation in the country and is also listed as the largest ASX-listed investor in renewable energy. Being the oldest company in Australia they offer a wide range of gas and electricity.
They are also the leading provider of solar specific energy plans. For future needs, they have announced Kanmantoo pumped hydro project to store and generate 250MW of electricity by 2024.
Are they reliable and why to go for them?
Yes, they are reliable with plans being listed in order of lowest price first. On the other side, their prices may vary based on one's circumstances in that particular area. Even they offer customers energy rates that won't change for up to two years.
They have even maintained their BBB investment-grade credit rating from Standard & Poors. Now they follow Default Market Offer (DMO) to explain their customers with full transparency the setting of energy price as per their usage.
They also show full commitment towards minimizing the effects of climate change thus by investing in sustainable energy businesses and working on environmentally friendly projects.
What's in news?
In August 2019, the company faced a battle with the Australian government and announced its delay in closure of Liddell power plant in April 2023.
References
https://en.m.wikipedia.org/wiki/AGL_Energy
https://www.agl.com.au