AGL recognised as Most Improved Retailer in 2018 Green Electricity Guide

Today, Greenpeace and the Total Environment Centre released their 2018 Green Electricity Guide, which aims to rank Australian electricity retailers in terms of how ‘green’ they are. In the 2018 Guide, AGL was recognised as the Most Improved Retailer. This is a credit to AGL’s commitments to prosper in a carbon constrained future and advance customer oriented solutions.

How were we ranked?

AGL ranked as the 5th ‘greenest’ retailer out of 31 and has received a 3.5 star rating under the 2018 Guide. Based on a comparison of retailers covered by both the 2015 and 2018 Guides, AGL climbed 6 spots. The Guide noted in particular our leadership in public policy and investment decisions (by moving away from fossil fuels) and involvement in programs that promotes demand response and local energy (P2P) trading, as well as ensuring that we offer equitable contracts to new solar customers.

How does this relate to our commitments?

While AGL is Australia’s largest fossil fuel generator, we have made a strong commitment to a range of measures that will drive the decarbonisation of the energy sector elaborated in our Greenhouse Gas Policy, including the closure of all of our existing coal-fired power stations by 2050 and continued investment in new renewable and near-zero emissions technologies.

A clear example of the impact of this strategy and as a result of the policy is to place clear time limits on the operation of our fossil fuel plants, providing certainty to communities and the market as to our decarbonisation pathway.

Our NSW Generation Plan is illustrative of our continued leadership in driving Australia’s clean energy future. AGL is Australia’s largest ASX listed owner, operator and developer of renewable generation, and has invested over $3 billion in renewables since 2005. We also continues to invest in our New Energy business unit that aims to focus on the distributed generation and new technology space.

There is more work to do

Nevertheless, as we continue to advocate to policy makers, the electricity generation industry cannot realise a low-carbon transition in isolation of government and public policy settings. As we observed in our recent submission in response to the Energy Security Board’s National Energy Guarantee Consultation Paper:

Australia remains in serious need of a long-term national carbon policy that drives investment in low-emissions sources and can steer the electricity sector smoothly through the process of replacing aging thermal plant with less emissions-intensive generation.

A long-term vision and trajectory for this transition is essential to provide investors with confidence to develop the long-lived and often capital intensive projects that will enable Australia to reduce its emissions efficiently over time, and at least cost.

Customers are driving the energy market transformation

AGL also believes that customers are playing an important role in the energy market transformation, driving a shift away from the traditional linear electricity supply chain, to a more decentralised and bi-directional market. AGL sees competition and innovation in technology and business models as the primary means for meeting this challenge and aligning the interests of energy service providers with those of the customers they serve. AGL is embracing innovation in behind-the-meter technologies, partnering with government and peers in the energy sector.

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