From ORG quarterly, i expect AGL to also have a good lift in net customer wins due to the 3rd party smaller retailers all folding during the spike in wholesale prices last year. NEM ave for Dec $91 compared to $57 same time last year, great for free cashflow
Q2(Dec-21)Q2(Dec-22)Electricity and natural gas markets • Both electricity and gas spot prices trended lower compared to the Sep-22 quarter, albeit they remain higher than the Dec-21quarter due to higher international coal and gas prices: − Average NEM spot electricity price for the Dec-22 quarter was $91/MWh, a significant decrease from $219/MWh in theSep-22 quarter due to lower demand as a result of warmer seasonal weather and increased baseload and renewablegeneration, and up from $57/MWh in the Dec-21 quarter − Average domestic spot gas price for the Dec-22 quarter was $18/GJ, down from $26/GJ in the Sep-22 quarter driven byreduced demand due to warmer seasonal weather, and up from $11/GJ in the Dec-21 quarter • A temporary price cap of $12/GJ on domestic gas sales by gas producers and a temporary price cap of $125/t on coal tookeffect from 23 December 2022
AGL Price at posting:
$7.62 Sentiment: Buy Disclosure: Held
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