Energy Markets FY2024 outlook•We anticipate further earnings growth in FY2024−Higher energy prices are being pricedinto customer tariffs−Earnings growth subject tocoal contractingrisk and ~50PJ gas price review outcome−Negotiations underway for coal contractingfor FY2024 and beyond•Octopus Energy expected to deliver earningsgrowth as global licensing revenue ramps up andUK market stabilises•Retail transformation expected to deliveron commitment of $200 --$250 million cash costreduction from an FY2018 baselineSource: AEMO/BloombergSwap price embedded in NSW retail tariff$/MWhOct2022May2022Mar2020Mar2019-50100150200250321EndFY23 swapsFY24 swapsDMOdetermination
This is from the ORG outlook presentation today and further backs up AGL's profit rise for 2024 and beyond once contracts expire
AGL Price at posting:
$6.79 Sentiment: Buy Disclosure: Held
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(20min delay)