AGL facing Federal Court class action

Scales of justice and gavel in law court setting (magnis energy)
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AGL Energy has been served with a class action lawsuit in the Federal Court alleging it breached competition and consumer law during bidding in the South Australian region of the National Electricity Market (NEM).

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The NEM is a regulated wholesale electricity market operated by the Australian Energy Market Operator (AEMO) with the Australian Energy Regulator undertaking compliance monitoring and enforcement.

The NEM comprises five physically connected regions—Queensland, New South Wales, the ACT, Victoria, Tasmania and South Australia.

“AGL takes its compliance obligations seriously and intends to vigorously defend the proceedings,” the company said in an ASX statement about the class action.

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AGL operates Australia’s largest private electricity generation portfolio within the National Electricity Market, comprising coal and gas-fired generation, renewable energy sources such as wind, hydro and solar, batteries and other firming technology, and gas production and storage assets.

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