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AGL Energy is an Australian energy company that was founded in 1837 as Australia's first gas company. The company has since diversified into electricity and other energy sources, and it currently provides energy to just under 2.1 million households in Australia, or over 22% of the country's residential customers. AGL is publicly traded and has a market capitalization of approximately $4.12 billion, with over 148,000 investors as of its most recent annual report. The company has a strong legacy of innovation and is committed to providing essential services to its customers, including electricity, gas, and telecommunications services.
| Characteristics | Values |
|---|---|
| Founding | 1837, in Sydney, Australia |
| Founding entity | The Australian Gas Light Company |
| Current status | Publicly owned entity, partially Australian-owned |
| Number of shareholders | 148,145 investors |
| Shareholding pattern | Almost 60% of shareholders are retail investors who own approximately 391 million shares |
| Customer base | 4.5 million energy and telecommunications customers |
| Electricity customers | 2.1 million households |
| Electricity market share | 22% of Australia's residential customers |
| Electricity generation capacity | 20% of the total generation capacity within Australia's National Electricity Market |
| Renewable energy | Holds 20% of the Powering Australian Renewables Fund, Australia's largest privately-owned renewable energy company |
| Greenhouse gas emissions | 42.4 million tonnes in the 2019-20 financial year |
| Rank in Australia | One of the top three Tier 1 energy retailers in Australia |
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What You'll Learn
- AGL is publicly owned, with 60% of shares owned by retail investors
- AGL is one of Australia's leading private investors in renewable energy
- AGL is targeting 12GW of renewable energy by 2035
- AGL was Australia's first gas company, formed in 1837
- AGL is one of Australia's largest energy companies, with over 2 million customers
AGL is publicly owned, with 60% of shares owned by retail investors
AGL Energy is a publicly owned company that has been operating in Australia since 1837. It was Australia's first gas company, lighting the first gas lamp in Australia and was the second company to list on the Sydney Stock Exchange. AGL has a strong legacy in innovation and is committed to providing essential services to its customers.
AGL is a large energy retailer, providing electricity to 2.1 million households, or over 22% of Australia's residential customers. It also has a presence in the telecommunications industry, with the purchase of Southern Phone in 2019. The company has a diverse range of energy sources, including coal, gas, battery, hydro, solar and wind energy.
AGL's share price has been on a rebound, with the company valued at approximately $4.12 billion. The company has a large number of shareholders, with almost 60% of its shares owned by retail investors. This means that the wider public has some influence over key decisions, such as executive bonuses.
AGL has been taking steps towards renewable energy, with a target of 12 gigawatts of new renewable energy by 2035. It has acquired renewable energy companies and projects, such as Southern Hydro and the Torrens Island Battery, and has announced the closure of several coal-burning power stations.
AGL is an Australian company with a long history and a commitment to providing essential services to its customers. Its public ownership structure gives retail investors a say in key decisions, and the company is working towards a more sustainable future.
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AGL is one of Australia's leading private investors in renewable energy
AGL Energy is an Australian-owned company that has been in operation since 1837, when it was formed as the Australian Gas Light Company and supplied town gas for the first public lighting of a street lamp in Sydney. Since then, AGL has diversified into electricity and expanded into various locations, including Western Australia, where it supplies natural gas to customers.
In addition to its investments in hydropower and wind energy, AGL has also ventured into solar energy. The company has announced plans to spend up to $13 billion on renewable energy by 2036, bringing forward its exit from coal-fired generation. AGL has set an ambitious target of adding 12 GW of new generation and firming by the end of 2035, with an interim goal of achieving 5 GW of new renewable energy by 2030.
AGL has also invested in battery energy storage systems and solar project development. The company completed the Torrens Island Battery, a 250 MW / 250 MWh grid-scale battery at Torrens Island Power Station in South Australia. Additionally, AGL announced the world's largest retailer-led solar virtual power plant, based in South Australia, with 1,000 connected batteries in homes and businesses in Adelaide.
AGL is committed to helping drive the transition to a lower emissions future. Through its investments in renewable energy sources and electrification, AGL is playing a key role in shaping Australia's energy landscape.
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AGL is targeting 12GW of renewable energy by 2035
AGL Energy, Australia’s largest energy generator, has announced that it is bringing forward the targeted closure date of the Loy Yang A power station in Victoria’s Latrobe Valley by up to ten years earlier than planned, with the end of the 2035 financial year targeted. AGL is targeting 12 gigawatts of new renewable energy by 2035, when all of its coal-fired generators are aimed to be closed. This includes an interim target to have up to 5 GW of new renewables and firming in place by 2030.
AGL's history as an Australian-owned company dates back to 1837 when it was founded as Australia's first gas company, the Australian Gas Light Company, in Sydney. Over the years, AGL has diversified into electricity and expanded into different locations across Australia. The company has a strong legacy of innovation and is committed to providing essential services to its customers, helping them electrify and decarbonize.
As part of its ambitious strategy, AGL aims to reshape its energy portfolio by transitioning away from coal and focusing on new renewable and firming capacity. This includes the development of pumped hydroelectric energy storage projects and the acquisition of renewable energy companies. AGL holds 20% of the Powering Australian Renewables Fund, the country's largest privately-owned renewable energy company.
AGL's future portfolio will be 'demand-driven', focusing on capacity that responds to customer needs. The majority of the new supply is anticipated to come from wind and storage, including batteries. AGL is also committed to extending its decarbonization offerings for businesses and helping residential customers on their electrification journey.
AGL's growth ambition will require significant capital investment, estimated at up to AUD$20 billion. This long-term investment opportunity will be funded through a combination of assets, offtakes, and partnerships. AGL's commitment to renewable energy and decarbonization aligns with the Paris Agreement goals and supports Australia's transition to a lower-carbon future.
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AGL was Australia's first gas company, formed in 1837
AGL Energy Ltd, formerly known as The Australian Gas Light Company, was Australia's first gas company, formed in 1837. The company was created by 'An Act for lighting with Gas the Town of Sydney', and it supplied town gas for the first public lighting of a street lamp in Sydney in 1841. Within two years, 165 more lamps were in operation. This development allowed Australians to experience late-night shopping for the first time.
AGL also introduced gas purification, enabling town gas to be used to light Australian homes. In 1976, the company transitioned from town gas to natural gas after the opening of the Moomba to Sydney Pipeline. Over time, AGL diversified into electricity generation, acquiring stakes in power stations and ownership of hydroelectric schemes, wind farms, and gas-powered power stations.
AGL has a strong legacy of innovation and is committed to providing essential services to its customers. It has expanded its operations beyond gas lighting, embracing new technologies and investing in renewable energy sources. The company has made significant acquisitions, such as the Loy Yang A Power Station and the Loy Yang coal mine in Victoria, and the Macquarie Generation assets in New South Wales, which included the Bayswater Power Station and the Liddell Power Station.
Today, AGL is Australia's largest electricity generator and the nation's largest carbon emitter. However, the company is targeting 12 gigawatts of new renewable energy by 2035, with plans to close all its coal-fired generators by that year. AGL has also ventured into the telecommunications industry and is actively working towards a more sustainable future.
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$10.6
AGL is one of Australia's largest energy companies, with over 2 million customers
AGL Energy is one of Australia's largest energy companies, with over 2 million customers. It was founded in 1837 as Australia's first gas company, lighting the first street lamp in Sydney. Over the years, it has diversified into electricity and expanded into different locations.
AGL currently provides electricity to just under 2.1 million households, or over 22% of Australia's residential customers. It also offers natural gas and telecommunication services. The company has a strong legacy of innovation and is committed to providing simple, fair, and accessible essential services to its customers.
AGL has a rich history, achieving several milestones in the Australian energy sector. It was the first company to list on the Sydney Stock Exchange, and it has since made significant acquisitions, such as the purchase of Southern Hydro, which made it the largest privately-owned operator of hydropower stations in Australia. AGL also owns the Wattle Point Wind Farm and has invested in renewable energy sources like wind, hydro, and solar.
In recent years, AGL has faced challenges with its share price dropping and criticism over its environmental impact. However, it remains a significant player in the Australian energy market, with a large customer base and a continued focus on innovation and sustainability.
AGL is partially Australian-owned, with almost 60% of its shares held by retail investors. The company has a market capitalization of approximately $4.12 billion and is traded on the ASX.
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Frequently asked questions
AGL Energy is partially Australian-owned. It has a large number of shareholders, with almost 60% being retail investors.
AGL Energy was founded in 1837 as Australia's first gas company.
AGL stands for Australian Gas Light Company.
AGL Energy's head office is in Sydney, with call centres in Adelaide and Melbourne.
AGL Energy serves around 4.5 million customers, with 2.1 million households as per 2021-22 figures.
