What’s with the AGL Energy (ASX:AGL) share price today?

After a solid run last week, the AGL Energy share price is looking for direction after the ASX 200 energy company reported a new agreement.
The post What’s with the AGL Energy (ASX:AGL) share price today? appeared first on The Motley Fool Australia. –

asx share price fall represented by investor looking puzzled at computer screen

The AGL Energy Limited (ASX: AGL) share price is edging lower in intraday trade, down 0.97%.

Below we take a look at the S&P/ASX 200 Index (ASX: XJO) energy company’s latest announcement relating to its renewable energy ambitions.

Renewable energy goals

The AGL Energy share price is largely unmoved this morning after the company reported it has entered into an agreement with the United Kingdom’s Ovo Energy Ltd.

Australia’s largest energy retailer and generator said the agreement with the leading “zero carbon living brand” will help it bring the latest digital services to customers Down Under.

Those digital services come courtesy of OVO’s Kaluza system, an AI-enabled platform designed to improve customer experience and offer energy flexibility in an age of ever-increasing renewable energy use.

With some of the highest levels of rooftop solar power generation on Earth, AGL reports Kaluza can help with grid stability as more and more energy supply comes from decentralised sources. Using its AI systems, Kaluza can move device charging to times when there is less energy demand.

The company stated that, “Kaluza orchestrates the charging of electric vehicles, energy storage systems and other flexible home devices to enable the shift to a low-carbon energy future.”

As part of the agreement, AGL will invest in OVO Energy Australia to adapt the Kaluza platform for Australia.

Commenting on the agreement, Brett Redman, AGL CEO, said:

Through this joint venture, OVO and AGL will bring world-class technology and innovation to Australia. Central to the market forces that shape our strategy, is customer demand. This collaboration will help us ensure our customers have choice and flexibility when it comes to their essential services.

AGL has been evolving our offerings, with carbon-neutral, multi-product options and decentralised energy solutions and this will allow us to continue into the future.

Stephen Fitzpatrick, CEO of OVO added, “Companies must now focus on building trust with their customers, harnessing technology that makes zero carbon living simple and affordable for everyone.”

AGL Energy share price snapshot

It’s been a tough year for AGL shareholders, with shares down by nearly 40% over the past 12 months. By comparison, the ASX 200 is up 32% over that same time.

Year to date the AGL share price is down by around 15%. AGL pays an 8% dividend yield, unfranked.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post What’s with the AGL Energy (ASX:AGL) share price today? appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!