AGL Energy Limited (AGK)
AGL Energy is Australia’s second largest retailer of electricity and gas. It services 3.5 Million retail electricity and gas accounts in the eastern and south eastern states representing a 27% market share. Profits are evenly split between energy retailing and energy generation and procurement activities. It is the oldest company listed on the ASX having been founded in 1837. Generation capacity comprises a portfolio of peaking, intermediate and base load electricity generation plants with a combined capacity of 6,000 MW. AGL operates in four segments: 1- Retail energy which includes selling natural gas, electricity and energy related products and services; 2 – Merchant energy which is engaged in developing, operating and maintaining power generation assets; 3 – Upstream Gas – which includes investments and operations in gas exploration; 4 – Energy Investments. In October 2013, AGL Energy Ltd through its wholly owned subsidiary acquired the remaining 80.1% interest in Australian Power & Gas Co Ltd. Concurrently AGL acquired a 19.9% stake in Australian Power.