AGL Energy (AGK)

Shares / Stock Code

AGK

Stock Exchange / Sharemarket

ax

Formerly called the Australian Gas Light Company, the AGL Energy Limited (AGK) is an Australian-based integrated energy company engaged in the sales of electricity and gas, energy processing infrastructure, power generation, natural gas production facilities development, extraction, exploration, coal seam methane gas (CSM) production and sales, of liquid petroleum gas (LPG) extraction and sales and crude oil extraction and sales. AGK was listed on the Australian Stock Exchange on the 12th of October 2006. Its average annual revenue reaches approximately $3 billion. Its headquarters is located in St. Leonard's, Australia and to date; around 200 people are employed in the company. AGK operates mainly through its subsidiaries.

Agility, one of the subsidiaries of AGL Energy Limited, is in charge of providing the energy infrastructure owners and managers with construction, operations, management and maintenance services portfolio. The services the company offers include repairs, metering, project management and maintenance activities.

AGL Energy's merchant energy segment is in charge of the management of the company’s wholesale energy portfolio. It also provides the company’s commercial business and industrial customers with retail gas, as well as renewable energy and electricity.

The AGK company retail energy segment is engaged in the sales and marketing of electricity, natural gas and other energy related services and products to around 2.8 million residents all throughout Australia.

The energy network segment of AGL Energy Limited represents the ownership of the company in electricity and gas distribution networks that are comprised of Electricity Network and AGL Gas Network.

AGL Energy Limited Company History

In 1837, Australia had its first energy company which was the Australian Gas Light or also known as the AGL. It was mainly made to provide light to Sydney streets through gas that is manufactured from coal. AGL later then became the Sydney’s supplier of gas for the business and residential customers. The company began providing natural gas for their customers throughout New South Wales and Sydney in 1976.

The company has developed throughout the years and they acquired some other businesses in other parts of the world such as those in New Zealand, Australia, and Chile. The company’s works were completely affected by the energy market deregulation in Australia today. This deregulation has enabled the company to expand their works in both selling and distribution of electricity in Australia.

The company expanded its operations to some new technologies division and telecommunications in the year 2000 and in 2001, they expanded their operations further when they built new power plant in Somerton, northwest of Melbourne in Australia.

AGL got hold of southern Hydro in November of 2005, a renewable portfolio of wind and hydro generation in Australia which was privately owned by Meridian Energy Limited, an energy company from New Zealand. In addition, during the same month, they made a combined business enterprise with another company, the SGL or the Sydney Gas Limited, to take part in the manufacturing and development of coal seam gas that is located in Camden.