News: AGL UPDATE 1-Australia's AGL Energy profit jumps in first half on higher electricity pricing

(Adds CEO quote, interim dividend, updated forecast between paragraphs 3 and 6)

Feb 8 (Reuters) - Australia's AGL Energy (AGL) posted a fourfold jump in first-half underlying profit on Thursday, helped by higher wholesale electricity pricing and improved market conditions.

AGL's underlying net profit after tax for the six months ended Dec. 31 was A$399 million ($260.11 million), compared with A$87 million a year earlier. According to Jefferies, the consensus estimate was A$311 million.

"Our first-half result was driven by improved fleet availability and flexibility, more stable market conditions, along with the impact of higher wholesale electricity pricing from prior periods being reflected in pricing outcomes and contract positions," CEO Damien Nicks said.

AGL, also the country's top carbon emitter, declared an interim dividend of 26 Australian (AU) cents per share, higher than 8 AU cents declared last year.

The company forecasts underlying net profit to be between A$680 million and A$780 million for the fiscal 2024, compared with its prior range of A$580 million to A$780 million.

It expects FY24 underlying EBITDA to be between A$2.03 billion and A$2.18 billion, versus its prior forecast of A$1.88 billion to A$2.18 billion.

($1 = 1.5340 Australian dollars)