“It’s been a very good and favorable story in the current market conditions,” Parvathy Iyer, a credit analyst at Standard & Poor’s Ratings Services in Melbourne said. “AGL is trying to retain its position of strength to bid” for the New South Wales power assets, she said.
AGL Energy Managing Director Michael Fraser said AGL will continue efforts to expand its renewable energy business, build gas reserves and develop gas generation investments to help deliver returns in “challenging economic conditions.
AGL Energy is a Sydney-based company.
