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The Guardian - AU

Business

Peter Hannam

AGL Energy posts $576m half-year profit as it rejects accusations of price gouging consumers

AGL AGL Energy Damien Nicks Allan Fels Electricity

Damien Nicks wearing an orange AGL shirt in front of the Liddell power station — AGL CEO Damien Nicks denies the company has overcharged consumers and says Australia’s electricity market is highly regulated and ‘one of the most competitive markets around’. Photograph: Bianca de Marchi/AAP

Electricity and gas company AGL Energy has posted a return to profit but rejected accusations the sector is price gouging cash-strapped households.

“We are acutely aware of the cost of living pressures both our customers and the broader community is under,” the chief executive, Damien Nicks, said on Thursday.

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