August 17, 2016 calls on AGL to come clean on allegations that the company gamed the SA electricity grid for mega profits

ADELAIDE, 17 August 2016 — today called on energy company AGL to clarify allegations in a new report that suggests it gamed the South Australian electricity market, pushing up prices and making mega profits at the expense of consumers.

A Melbourne Energy Institute (MEI) report released recently, shows that the AGL Torrens Island plant may have deliberately withheld capacity and pushed up power prices. This behaviour led SA power companies, such as AGL to make between $40 million and $60 million in ‘monopoly rents’ during the SA power crisis.

“It is disappointing to think that AGL could have deliberately manipulated the market to make millions in profits at the expense of South Australian power users,” campaigner, Josh Creaser said.

“If true, these actions undermine public confidence in renewable energy, by making it seem as though these huge cost spikes are caused by SA’s high reliance to renewable energy when in fact these massive price increases appear to have been driven directly by AGL’s manipulation of the market.

“We call on the company to set the record straight, so the Australian people can understand the real factors behind the massive price hikes they’ve had to deal with in recent months.

“If AGL is serious about transitioning away from dirty coal generated power and to renewables, they have to help build the case for renewable energy in Australia, not undermine it.”

Media contact: Cambell Klose 0490 436 948