52-767: AGL Energy Ltd is an Australian listed public company involved in both the generation and retailing of electricity and gas for residential and commercial use. It is one of the "big three" retailers in the National Electricity Market . AGL is Australia's largest electricity generator, and the nation's largest carbon emitter. In 2022, 83% of its energy came from burning coal. It is, however, targeting 12 gigawatts of new renewable energy by 2035, when all of its coal fire generators are aimed to be closed. It closed Liddell Power Station in 2023, but aims to close Bayswater Power Station in 2033, and Loy Yang A Power Station in 2035. The Australian Gas Light Company
104-715: A renewable source of energy . AGL announced in April 2015 and reaffirmed in September 2017 that it intends to close the Liddell Power Station in 2022. The closure of this and other coal-burning power stations in Australia led to Prime Minister Malcolm Turnbull , to seek advice from the Australian Energy Market Operator on extending the life of a number of them, to head off future power shortages. Turnbull said
156-415: A bulk power generator and a carbon-neutral energy retailer. AGL Energy was to be rebranded as Accel Energy and hold the company's coal-fired power plants and wind farm contracts, while the electricity and gas retail assets were to be spun off into a separately listed company, AGL Australia. In May 2022, the proposed split was abandoned with the chairman, two board members and CEO resigning, the company citing
208-475: A call system, where an exchange employee called the names of each company and brokers bid or offered on each. In the 1960s this changed to a post system. Exchange employees called "chalkies" wrote bids and offers in chalk on blackboards continuously, and recorded transactions made. The ASX (Australian Stock Exchange Limited) was formed in 1987 by legislation of the Australian Parliament which enabled
260-591: A gas distribution system in the Hutt Valley and Porirua area, owned through its 71% owned subsidiary Natural Gas Corporation. This network was sold to Vector in 2004 for NZ$ 814 million. The company bought Transalta NZ's electricity retail business for NZ$ 824 million in 2001. Subsequently, selling the electricity retail asset for a loss. On 6 October 2006, the Australian Gas Light Company and Alinta merged and restructured to create two new listed companies,
312-668: A majority of its power generation. The Australian Government Clean Energy Regulator publishes an annual list of the ten largest emitters of greenhouse gases . In the 2019-20 financial year , AGL came first place on the list, with reported emissions of 42.4 million tonnes , which is equivalent to nine million cars on the road. AGL is responsible for more than double the carbon emissions of Australia's second-biggest electricity generator, and more than BHP , Rio Tinto , Glencore , and Qantas combined. AGL's coal-burning power stations are responsible for eight per cent of Australia's total national emissions . In February 2016, AGL announced
364-567: A restructured Alinta Ltd and AGL Energy Ltd. In Victoria, in June 2012, AGL Energy acquired Loy Yang A Power Station and the Loy Yang coal mine. Loy Yang A has four generating units with a combined capacity of 2,200 MW. In New South Wales, in September 2014 AGL Energy acquired Macquarie Generation from the New South Wales Government for $ 1.5 billion. Macquarie Generation's assets included
416-497: A separate entity). The ASX was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament as an amalgamation of the six state securities exchanges, and merged with the Sydney Futures Exchange in 2006. Today, ASX has an average daily turnover of A$ 4.685 billion and a market capitalisation of around A$ 1.6 trillion , making it one of the world's top 20 listed exchange groups, and
468-465: A single contract of greasy wool that by the end of the year had traded 19,042 lots. 1969–1970 : The Poseidon bubble (a mining boom triggered by a nickel discovery in Western Australia) caused Australian mining shares to soar and then crash, prompting regulatory recommendations that ultimately led to Australia's national companies and securities legislation. 1976 : The Australian Options Market
520-682: Is a NASDAQ OMX ultra-low latency trading platform based on NASDAQ OMX's Genium INET system, which is used by many exchanges around the world. It is one of the fastest and most functional multi-asset trading platforms in the world, delivering latency down to ~250 microseconds. ASX Trade24 is ASX global trading platform for derivatives. It is globally distributed with network access points (gateways) located in Chicago, New York, London, Hong Kong, Singapore, Sydney and Melbourne. It also allows for true 24-hour trading, and simultaneously maintains two active trading days which enables products to be opened for trading in
572-476: Is a pre-market session from 7:00 am to 10:00 am Sydney time and a normal trading session from 10:00 am to 4:00 pm Sydney time. The market opens alphabetically in Single-price auctions , phased over the first ten minutes, with a small random time built in to prevent exact prediction of the first trades. There is also a single-price auction between 4:10 pm and 4:12 pm to set
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#1732877289023624-529: The 2007–2008 financial crisis . The ban on covered short selling was lifted in May 2009. Southern Phone Southern Phone (also known as Southern Phone Company) is an Australian telecommunications company. It is located at Moruya, New South Wales . Southern Phone was established in 2002. It operated as an unlisted public company until December 2019. It was acquired by AGL Energy for A$ 27.5 million from 35 district councils. In 2002, Southern Phone
676-670: The ACT Government , was formed in October 2000 as Australia's first utility joint venture. Twenty-five per cent owned by AGL Energy, ActewAGL provides electricity, natural gas, and telecommunication services to business and residential customers in the Australian Capital Territory and south-east New South Wales. In 2000, AGL purchased emerging telecommunications provider Dingo Blue from C&W Optus for $ 22m. AGL closed Dingo Blue down in 2003 AGL had New Zealand assets including
728-662: The Future Fund joined AGL as investors in Powering Australian Renewables. Australian Securities Exchange Australian Securities Exchange Ltd ( ASX ) is an Australian public company that operates Australia's primary securities exchange , the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as, the Sydney Stock Exchange ,
780-579: The Powering Australian Renewables Fund , which is Australia's largest privately owned renewable energy company. In 2015 the New South Wales Environment Protection Authority ordered the suspension of AGL's Gloucester operations after finding toxic chemicals had been introduced into Hunter Water's systems. The EPA subsequently found no "evidence of harm to the environment or pollution of waters" and AGL
832-612: The Upper Lachlan Shire Council, Coffs Harbour City Council and Bellingen Shire Council. Optus Satellite partnered with Southern Phone in October 2017 to launch the national broadband network (NBN) Sky Muster . Southern Phone uses the Optus 4G network, as well as parts of the Telstra 4G/3G network for its mobile services. By 2018, Southern Phone had delivered over $ 14.8 million in dividends to local councils with shares in
884-579: The 2,640 MW Bayswater Power Station , the 2,000 MW Liddell Power Station , the 50 MW Hunter Valley Gas Turbines and the Liddell Solar Thermal Project. From the two thermal coal power stations and two oil-fired gas turbines , Macquarie Generation supplies approximately 12% of the National Electricity Market and 30% of the New South Wales electricity market. In early stages, Macquarie has commenced development of solar thermal power as
936-583: The ASX could not offer them. The court held they were options and so LEPOs were introduced in 1995. 1995 : Stamp duty on share transactions was halved from 0.3% to 0.15%. The ASX had agreed with the Queensland State Government to locate staff in Brisbane in exchange for the stamp duty reduction there, and the other states followed suit so as not to lose brokerage business to Queensland. In 2000 stamp duty
988-557: The ASX in 1998. 2000 : In October, ASX acquires a 15% stake in the trading and order management software company IRESS (formerly BridgeDFS Ltd). 2001 : Stamp duty on marketable securities abolished. 2006 : The ASX announced a merger with the Sydney Futures Exchange, the primary derivatives exchange in Australia. ASX Group has two trading platforms – ASX Trade, which facilitates the trading of ASX equity securities and ASX Trade24 for derivative securities trading. All ASX equity securities are traded on screen on ASX Trade. ASX Trade
1040-441: The ASX operating rules. The Reserve Bank of Australia (RBA) has oversight of the ASX's clearing and settlement facilities for financial system stability. Products and services available for trading on ASX include shares, futures, exchange traded options, warrants, contracts for difference, exchange-traded funds, real estate investment trusts, listed investment companies and interest rate securities. The biggest stocks traded on
1092-559: The ASX, in terms of market capitalisation , include BHP , Commonwealth Bank , Westpac , Telstra , Rio Tinto , National Australia Bank and Australia & New Zealand Banking Group . The major market index is the S&;P/ASX 200 , an index made up of the top 200 shares in the ASX. This supplanted the previously significant All Ordinaries index, which still runs parallel to the S&;P ASX 200. Both are commonly quoted together. Other indices for
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#17328772890231144-657: The Gloucester gas project and that it would cease production at the Camden Gas Project in South West Sydney in 2023, twelve years earlier than previously proposed. AGL has implemented a decommissioning and rehabilitation program for its well sites and other infrastructure in the Gloucester region. In November 2016, AGL commenced the progressive decommissioning and rehabilitation of wells at the Camden site. In August 2017, it
1196-635: The Hobart exchange. In November 1903 the first interstate conference was held to coincide with the Melbourne Cup . The exchanges then met on an informal basis until 1937 when the Australian Associated Stock Exchanges (AASE) was established, with representatives from each exchange. Over time the AASE established uniform listing rules, broker rules, and commission rates. Trading was conducted by
1248-548: The Stock Exchange Automated Trading System (SEATS). It was a far cry from the original system which dated back over 100 years. During that time there had been three different forms of trading on the Australian stock exchanges. The earliest was the auction-based call system, which saw a stock exchange employee (the caller) call the name of each listed security in turn while members bid, offered, sold or bought
1300-759: The Sydney Stock Exchange. 1885 : Two years after the Broken Hill Mining Company (private company) was established by a syndicate of seven men from the Mount Gipps Station , the company was incorporated to become the Broken Hill Proprietary Company Limited (BHP). In 1885, BHP listed on the Melbourne Stock Exchange. 1937 : The Australian Associated Stock Exchanges (AASE) was established in 1937. Since 1903
1352-474: The amalgamation of six independent stock exchanges that formerly operated in the state capital cities. After demutualisation , the ASX was the first exchange in the world to have its shares quoted on its own market. The ASX was listed on 14 October 1998. On 7 July 2006 the Australian Stock Exchange merged with SFE Corporation, holding company for the Sydney Futures Exchange. 1861 : Ten years after
1404-594: The bigger stocks are the S&P/ASX 100 and S&P/ASX 50 . The origins of the ASX date back to the mid-1800s when six separate exchanges were established in Australia's state capital cities of Melbourne , Victoria, (1861), Sydney , New South Wales (1871), Hobart , Tasmania (1882), Brisbane , Queensland (1884), Adelaide , South Australia (1887) and Perth , Western Australia (1889, the Stock Exchange of Perth ). A further exchange in Launceston , Tasmania, merged into
1456-442: The creation of the Powering Australian Renewables Fund . The Powering Australian Renewables Fund or PARF (now PowAR), owns and develops more than 1,000MW of large-scale renewable energy projects to support Australia's renewable energy capacity and transition to a low-carbon economy. Once fully invested, PARF expects to own approximately 10% of Australia's renewable energy capacity. In June 2016, Queensland Investment Corporation and
1508-770: The daily closing prices. Security holders hold shares in one of two forms, both of which operate as uncertificated holdings, rather than through the issue of physical share certificates : Holdings may be moved from issuer-sponsored to CHESS or between different brokers by electronic message initiated by the controlling participant. Short selling of shares is permitted on the ASX, but only among designated stocks and with certain conditions: Many brokers do not offer short selling to small private investors. LEPOs can serve as an equivalent, while contracts for difference (CFDs) offered by third-party providers are another alternative. In September 2008, ASIC suspended nearly all forms of short selling due to concerns about market stability during
1560-477: The development of a new $ 295 million gas-fired generator in South Australia. The Barker Inlet Power Station , will replace two of the four Torrens Island A turbines which are expected to be decommissioned in late 2020. The island's B turbines will continue to operate as usual. The Barker Inlet Power Station was officially completed and handed over to AGL in early 2020. In August 2017, Crib Point Import Jetty
1612-417: The electronic CLICK system for derivatives began. 1998 : ASX demutualised to become a listed company. It was the first exchange in the world to demutualise and list on its own market, a trend that has been imitated by several other exchanges over the years. The Australian Mutual Provident Society began in 1849 as an organisation offering life insurance. Now known as AMP it became a publicly listed company on
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1664-578: The floor of the Sydney Exchange was suspended throughout Friday. Damage totaled $ 2 million and repairs took more than six months, with new carpet laid and cables and computers replaced. Stockbrokers who had taken advantage of joint access were able to trade on the Melbourne Stock Exchange. And, with the Sydney trading floor closed by floodwaters, the Melbourne Exchange enjoyed its busiest trading day for
1716-523: The government had been advised that if the Liddell plant were to close in 2022, there would be a 1,000 MW gap in base load , dispatchable power generation . In 2018, AGL was among 17 energy businesses that supported the launch of the Energy Charter , a global initiative aimed at bringing together all parts of the power supply chain to give customers more affordable and reliable energy. In 2019, AGL entered
1768-466: The ground rules for commissions and the flotation of government and semi-government loan raisings. 1938 : Publication of the first share price index. 1939 : Sydney Stock Exchange closed for the first time due to the declaration of World War II . 1960 : Sydney Futures Exchange began trading as Sydney Greasy Wool Futures Exchange (SGWFE). Its original goal was to provide Australian wool traders with hedging facilities in their own country. SGWFE offered
1820-492: The largest in the southern hemisphere. ASX Clear is the clearing house for all shares, structured products, warrants and ASX Equity Derivatives. ASX Group is a market operator, clearing house and payments system facilitator. It also oversees compliance with its operating rules, promotes standards of corporate governance among Australia's listed companies and helps to educate retail investors. The Australian Securities & Investments Commission (ASIC) has responsibility for
1872-531: The new trading day in one time zone while products are still trading under the previous day. The normal trading or business days of the ASX are week-days, Monday to Friday. ASX does not trade on national public holidays: New Year's Day (1 January), Australia Day (26 January, and observed on this day or the first business day after this date), Good Friday (that varies each year), Easter Monday, Anzac day (25 April), King's Birthday (June), Christmas Day (25 December) and Boxing Day (26 December). On each trading day there
1924-575: The official advent of the Gold Rush , Australia's first stock exchange was formed in Melbourne. In the 1850s Victoria was Australia's gold mining centre, its population increasing from 80,000 in 1851 to 540,000 in 1861. 1871 : Thirty years after it lit the first gas street light in Sydney, the Australian Gas Light Company took its place in history again, becoming the second company to list on
1976-788: The proposal was unlikely to gain the required 75% shareholder approval. In August 2024, AGL announced it would acquire Firm Power, a grid-scale battery project developer, and its affiliated Terrain Solar, a developer of solar and wind farm projects, for $ 250 million. This is a listing of AGL's corporate acquisitions and disposals. AGL has a diverse power generation portfolio—including base, peaking and intermediate generation plants—spread across traditional thermal generation as well as renewable sources including hydro and wind. The following tables listing significant assets are based on AGL's 2016 Annual Report. (20% ownership) in development (20% ownership) (20% ownership) (20% ownership) AGL holds 20% of
2028-682: The right to develop a pumped hydroelectric energy storage project in the mined-out main pit of the Kanmantoo mine on the eastern side of the Adelaide Hills in South Australia . The project is expected to be capable of storing and generating 250MW of electricity from 2024. In early 2020, AGL announced that it would not be proceeding with the Kanmantoo Pumped Hydro project. AGL currently owns three coal-burning power stations which produce
2080-460: The state stock exchanges had met on an informal basis, but in 1936 Sydney took the lead in formalising the association. Initially this involved the exchanges in Adelaide, Brisbane, Hobart and Sydney. Melbourne and Perth joined soon after. Through the AASE the exchanges gradually brought in common listing requirements for companies and uniform brokerage and other rules for stockbroking firms. They also set
2132-540: The stock at each call. This system proved inadequate to handle the increased volume of trading during the mining booms. It was replaced by the 'post' system in the early 1960s, which involved stocks being quoted on 'posts' or 'boards'. 'Chalkies' were employed by the Stock Exchange and it was their function to record in chalk the bids and offers of the operators (employees of stockbrokers) and the sales made. This system stayed in place until 1987. 1990 : A warrants market
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2184-443: The supervision of real-time trading on Australia's domestic licensed financial markets and the supervision of the conduct by participants (including the relationship between participants and their clients) on those markets. ASIC also supervises ASX's own compliance as a public company with ASX Listing Rules. ASX Compliance is an ASX subsidiary company that is responsible for monitoring and enforcing ASX-listed companies' compliance with
2236-558: The telecommunications industry with the purchase of Southern Phone , a regional telecommunications company. In September 2020, AGL signed an agreement to acquire energy retailer Click Energy from Amaysim for $ 115 million. The company began selling broadband Internet services under its own brand in November 2020 and, in February 2021, it launched AGL Mobile, a mobile phone service provider. In June 2021, AGL announced its intention to split into
2288-459: The year. After that episode a back-up site was established outside the Sydney CBD. 1987 : The Australian Stock Exchange Limited (ASX) was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament. The formation of the national stock exchange involved the amalgamation of the six independent stock exchanges that had operated in the states' capital cities. Launch of
2340-565: Was abolished in all states as part of the introduction of the GST . 1996 : The exchange members (brokers etc.) voted to demutualise . The exchange was incorporated as ASX Limited and in 1998 the company was listed on the ASX itself, with the Australian Securities & Investments Commission enforcing the listing rules for ASX Limited. 1997 : Electronic trading commences as the option market moves from floor to screen. A phased transition to
2392-444: Was allowed to continue its Gloucester operations. In February 2016, AGL announced that exploration and production of natural gas assets would no longer be a core business for the company. This followed years of campaigning, including protests at shareholder meetings and a non-violent blockade of exploration sites, by anti-CSG community group Groundswell Gloucester. This announcement included clarification that AGL would not proceed with
2444-479: Was announced as the preferred location for a new terminal importing gas from other markets. The project is expected to cost $ 250 million, with construction expected to commence in 2021. In 2021, the Andrews State Government halted the project, despite gas shortages being forecasted, forcing AGL to announce that it would no longer proceed with the project. In April 2019, AGL announced that it had acquired
2496-681: Was announced that the Coopers Gap Wind Farm would proceed to construction, with AGL securing funding from the Powering Australian Renewables Fund. When completed the 453 MW Coopers Gap Wind Farm will be the largest in Australia. The final wind turbine at the Coopers Gap Wind Farm was completed in April 2020. In May 2017, it was announced that construction had commenced on the 200 MW Silverton Wind Farm in north western New South Wales. In June 2017, AGL announced
2548-497: Was established, trading call options . 1980 : The separate Melbourne and Sydney stock exchange indices were replaced by Australian Stock Exchange indices. 1984 : Brokers' commission rates were deregulated. Commissions have gradually fallen ever since, with rates today as low as 0.12% or 0.05% from discount internet-based brokers. 1984 : Sydney Stock Exchange closed due to heavy rain and flooding on 9 November 1984 with 70 millimetres of rain falling in one half-hour. All trading on
2600-683: Was established. 1993 : Fixed-interest securities were added (see Interest rate market below). Also in 1993, the FAST system of accelerated settlement was established, and the following year the CHESS system (see Settlement below) was introduced, superseding FAST. 1994 : The Sydney Futures Exchange announced trading in futures over individual ASX stocks. The ASX responded with the Low Exercise Price Option or LEPO (see below). The SFE went to court, claiming that LEPOs were futures and therefore that
2652-533: Was formed by councils in New South Wales, Australia in order to extend affordable telecommunications into regional communities. The company received $ 4.77 million in initial funding from the Australian Government's Networking the Nation scheme. Local councils were shareholders , retaining profits in the community. Councils purchased two shares for $ 1 each. In 2017, Southern Phone had 35 shareholders including
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#17328772890232704-453: Was formed in Sydney in 1837, and supplied town gas for the first public lighting of a street lamp in Sydney in 1841. AGL was the second company to list on the Sydney Stock Exchange . The company gradually diversified into electricity and into a number of different locations. ActewAGL , a joint venture between the Australian Gas Light Company and Icon Water , a government-owned enterprise of
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