AGL share price $21.14. Keeps going up and up. Laughing all the way to the bank.
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I will vote with my feet and take my power requirements else where.
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Fundamentally AGL as generator with a retail arm has no interest in or need to in lower prices. As an integrated oligopolist there's no competitive pressure. Hardly a difficult point for anyone to get their head around, & certainly not difficult for customers to understand.
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Unfortunate that Alan Kohler didn't bother to get his head around the detail before defending AGL. Whether there is price manipulation is found in the details of bidding activity on the NEM & in the terms of wholesale contracts. AGL has no interest in or need to lower prices
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Actually it smacks of the certainty of privatisation of essential services. Once any initial inefficiencies of government bureaucracy are removed, profit maximisation is the obvious next step. Regulation the only solution. But then donors would make less money.
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