AGL ‘safety net’ discounts for gas customers announced

A major energy company will soon introduce automatic discounts for tens of thousands of gas customers. See if you will save on your bills.

Tens of thousands of Victorian AGL gas customers on standing offers will save about $80 a year from discounts to take effect from September 1.

Nationwide, the energy giant will give automatic 5 per cent price cuts to almost 140,000 households and more than 6000 small businesses who have been on standing offers for more than a year.

In Victoria, 32,000 residential customers will save about $80 annually, while costs will drop by about $120 for 1700 small businesses.

AGL Energy chief executive Brett Redman. Picture: Hollie Adams

Standing offers are typically more expensive than market offers, which most customers are on.

The “safety net” discounts on use and supply charges come as AGL unveiled a full-year underlying profit of $1.04 billion, up 2.2 per cent on the previous year.

Its net profit fell 42.8 per cent, to $905 million.

AGL chief executive officer Brett Redman said the safety net move aimed to address energy affordability.

MORE NEWS:

PAKENHAM MUM’S KILLER A TICKING TIME BOMB

TV STAR’S EX NABBED AFTER ILLEGAL HUNT PHOTO

“This is part of our continuing process of helping customers with energy, which initially included writing to them and urging them to seek a better deal,” Mr Redman said.

“The discounts will apply until at least July 2020. We will also continue to provide standing offer customers with annual plan reviews encouraging them to take up a better offer if available.”

[e-mail]

@KarenCollierHS