• AGL subsidiaries ordered to pay $25 million penalty
• Penalty due to breach of National Energy Retail Rules
• Failure to notify and refund customers on Centrepay payments

AGL Energy Limited (AGL) has announced that the Federal Court has ordered four AGL subsidiaries to pay a total penalty of $25 million in proceedings brought by the Australian Energy Regulator (AER). The Court determined that AGL breached the National Energy Retail Rules by failing to notify and refund approximately 500 customers within the required timeframe in relation to Centrepay payments. AGL is disappointed that this issue occurred and has apologised to the affected customers. Since the issue was identified by AGL in mid-2020, the company has undertaken significant process enhancements to improve its handling of Centrepay payments. AGL respects the decision of the Court and will closely review the Court's judgment to consider whether to appeal. The payment of the penalty will not impact AGL's FY25 Guidance, which remains unchanged.

AGL's FY25 Guidance remains unchanged at: Underlying EBITDA between $1,870 and $2,170 million; and Underlying Net Profit between $530 and $730 million.