Aug 12 (Reuters) - AGL Energy Ltd (AGL) :
- AGL update on Portland hedging contract
- AGL continues to expect the contracts to contribute to earnings in FY 2017
- Says expected the other three partners in the Portland facility will follow
suit over coming days
- Potential earnings impact on AGL from FY 2018 onwards is currently limited by
the strong futures market outlook for wholesale electricity prices
- In anticipation of termination event, fair value of contracts in question was
written down in its FY 2016 accounts by $187 million post-tax
- Expects Portland facility to continue to operate, meaning physical demand for
electricity from the smelter will continue
- Received notification from one of four Portland aluminium smelter owners in
Victoria terminating electricity hedging contracts with AGL
News: AGL AGL Energy updates on Portland hedging contract
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| Open | High | Low | Value | Volume |
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