AGL goes on front foot

AGL Energy's exit from oil and gas has led it to a $408 million statutory loss for the 2015-16 financial year, but is on the front foot in its new path towards cleaner energy with a $300 million capital spend program and a freshly minted executive to drive its ‘new energy' business.

Its loss was mainly due to exiting gas exploration and production in February and changes in the fair value of certain electricity derivatives.