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AGL Energy Shares Rise 1.9% as Batteries Offset Power Price Drop

AGL Energy logoAGL Energy
Sig1.85Sen+3.25Env0.00Soc0.00Gov0.00

AGL Energy shares rose 1.9% as investors weighed a 47% fall in Australia’s wholesale electricity prices against the company’s ability to earn during volatility. National Electricity Market average prices fell to A$74/MWh. Batteries and flexible generators absorbed low-price power and generated higher value, including A$57 million battery EBITDA and an expectation that Liddell’s July start will lift performance.

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