Lexi Webster
AGL is one of Australia's oldest energy companies, founded in 1837. It is a publicly owned entity, which means it is partially Australian-owned. The company has a rich history in Australia, supplying gas for street lamps when it first entered the market. Today, AGL serves over 4.5 million customers and operates Australia's largest electricity generation portfolio within the National Electricity Market.
| Characteristics | Values |
|---|---|
| Year founded | 1837 |
| Headquarters | Sydney, Australia |
| Ownership | Mixed among shareholders, most of whom are Australian investment companies |
| Industry | Energy |
| Business | Generation and retailing of electricity and gas for residential and commercial use |
| Achievements | First Australian company to join EV100; Australia's largest electricity generator |
| Environmental Commitments | Transition to a low-emission, affordable, and smart energy future; Net-zero emissions by 2050 |
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What You'll Learn
- AGL is publicly owned, making it partially Australian owned
- AGL is one of Australia's oldest companies, founded in 1837
- AGL is an ASX-listed company with mixed ownership among shareholders
- AGL's major shareholders are Australian investment companies
- AGL is committed to providing accessible, fair, and simple services to its customers
AGL is publicly owned, making it partially Australian owned
AGL is a publicly owned entity, which means it is partially Australian-owned. The company was established in 1837 and has since become one of Australia's oldest companies, supplying gas for street lamps and claiming a rich heritage of innovation.
AGL joined the Australian market in 1837 and currently serves over 4.5 million customers. It is one of the few energy retailers that is climate active, and it owns and operates coal, gas, battery, hydro, solar, and wind energy sources.
AGL is an ASX-listed company, indicating that ownership is mixed among shareholders. While the majority of major shareholders are Australian investment companies, there are also shareholders from across the globe.
AGL is committed to providing its customers with simple, fair, and accessible essential services as it helps them electrify and decarbonize. The company operates Australia's largest electricity generation portfolio within the National Electricity Market, supplying approximately 20% of the total generation capacity.
AGL has a strong legacy in innovation and is proud of its Australian roots, dating back to 1837. With a head office in Sydney and call centres in Adelaide and Melbourne, AGL has a significant presence in Australia and is an essential part of the country's energy market.
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AGL is one of Australia's oldest companies, founded in 1837
AGL Energy Ltd, founded in 1837, is one of Australia's oldest companies. It is an Australian-listed public company that generates and retails electricity and gas for residential and commercial use.
AGL has a long history in Australia, dating back to the early days of the country's energy industry. The company was formed as the Australian Gas Light Company in Sydney in 1837 and played a pivotal role in the country's energy sector. In 1841, the company supplied town gas for the first public lighting of a street lamp in Sydney, marking a significant milestone in Australia's energy history.
Over the years, AGL has evolved and diversified its operations, expanding beyond its initial focus on gas lighting. The company gradually ventured into electricity generation and, by the early 2000s, had established a strong presence in the energy market. In 2001, AGL expanded its reach by acquiring Transalta NZ's electricity retail business in New Zealand. In 2004, it sold its New Zealand gas distribution network to Vector for NZ$814 million.
Today, AGL is Australia's largest electricity generator and holds a significant position in the National Electricity Market. It serves around 4.5 million energy customers and is committed to providing essential services that help Australians electrify and decarbonize their lives. AGL has set ambitious targets for transitioning to a lower-emissions future, aiming to add 12 GW of new renewable energy generation by 2035 and close all its coal-fired power stations by the same year.
In addition to its core energy business, AGL has also expanded into the telecommunications industry. In 2019, the company purchased Southern Phone, a regional telecommunications provider, and began offering broadband internet services under its brand in 2020.
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AGL is an ASX-listed company with mixed ownership among shareholders
AGL Energy Ltd is an Australian public company listed on the ASX. It is involved in the generation and retailing of electricity and gas for residential and commercial use. AGL is Australia's largest electricity generator and the nation's biggest carbon emitter. The company has a long history in Australia, dating back to 1837 when it supplied town gas for the first public lighting of a street lamp in Sydney.
AGL has a diverse portfolio that includes coal and gas-fired generation, as well as renewable sources such as wind, hydro, and solar. The company is targeting the addition of 12 gigawatts of new renewable energy by 2035 and plans to close all its coal-fired generators by that time. AGL is also taking steps to reduce its carbon footprint and has joined the global initiative EV100, committing to transition its fleet of corporate vehicles to 100% electric by 2030.
AGL's decision to join EV100 is part of its commitment to innovation and finding the best solutions for the environment, its employees, customers, and shareholders. The company has set a target to achieve net-zero emissions by 2050 and is investing in smart and clean technologies. AGL is also embracing Environment, Social, and Governance practices to shape its future success and drive Australia's transition to a low-emission, affordable, and smart energy future.
AGL has a presence outside of Australia as well. For example, the company previously had New Zealand assets, including a gas distribution system, and it is a member of the global EV100 initiative, which includes companies from various countries. However, AGL's primary focus and operations are in Australia, and it is committed to driving the country's decarbonisation journey.
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AGL's major shareholders are Australian investment companies
AGL is a publicly owned entity, which means it is partially Australian owned. It is one of Australia's oldest companies, established in 1837, and currently has over 2 million residential customers. AGL is an ASX-listed company, meaning that ownership is mixed among shareholders.
Other shareholders include private companies, which account for 0.4% of AGL's shareholdings, and individual insiders, such as directors and the management team, who own 0.1% of the company.
AGL's institutional ownership structure includes major shareholders such as individual investors, mutual funds, hedge funds, or institutions. The company's share price as of February 15, 2024, was 8.40 per share, a decline from 11.03 per share on September 26, 2023.
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AGL is committed to providing accessible, fair, and simple services to its customers
AGL is an Australian listed public company and one of the country's oldest, dating back to 1837. It is committed to providing accessible, fair, and simple services to its customers. With a strong legacy in innovation, AGL aims to help its customers electrify and decarbonise their lives, movement, and work.
AGL operates Australia's largest electricity generation portfolio within the National Electricity Market. This includes coal and gas-fired generation, as well as renewable sources such as wind, hydro, and solar. The company is targeting 12 gigawatts of new renewable energy by 2035 and plans to close all its coal-fired generators by then. AGL is also the first Australian company to join EV100, committing to transition its fleet of 400 corporate vehicles to 100% electric by 2030.
As a leading electricity generator, AGL recognises its role in driving Australia's decarbonisation journey. The company has embraced Environment, Social, and Governance (ESG) practices and is committed to connecting every customer to a sustainable future. AGL has set a target to achieve net-zero emissions by 2050 and plans to deploy 1.2 GW of utility-scale batteries across multiple locations.
AGL's commitment to its customers extends beyond just providing energy. In 2019, the company entered the telecommunications industry with the purchase of Southern Phone, a regional telecommunications company. AGL began selling broadband internet services under its brand in 2020, offering bundled energy and telecommunications services to its customers.
AGL is also committed to supporting the community and the environment. The company has invested in the Powering Australian Renewables Fund (PARF), which owns and develops large-scale renewable energy projects. Additionally, AGL has partnered with the Victorian Government to install 88 batteries across 22 Salvation Army sites, further contributing to the transition to a cleaner energy future.
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Frequently asked questions
No, AGL is not 100% Australian owned. It is a publicly owned entity, which means it is partially Australian owned. AGL is an ASX-listed company, meaning that ownership is mixed among shareholders.
AGL was founded in 1837.
AGL speaks toward sustainability in its media pages, claiming approximately 20% of the total generation capacity within Australia's National Electricity Market. However, 83% of AGL's generation comes from coal.
