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AGL Energy Limited (ASX:AGK) has launched legal proceedings to fight a price ruling by the Essential Services Commission Of South Australia (ESCOSA).
The Commission is seeking to amend a decision made in 2010 which sets the price at which AGL must supply electricity to its South Australian regulated customers.
The energy provider says the Commission has wrongly exercised its power under the legislation to review prices due to special circumstances.
AGL recently warned adverse regulatory pricing decisions in Queensland and South Australia would reduce its annual underlying profit by about $45 million in the current financial year.
AGL Energy generated a net profit of $115 million in the 2012 financial year.
