Hedging first for AlintaGas

In a first for the Perth-based gas retailer and distributor, AlintaGas has taken steps to protect itself against volatile liquefied petroleum gas (LPG) prices by entering into a series of foreign exchange and commodity hedges.

AlintaGas told the markets that these hedges represent about 80% of the total estimated revenue the company draws from its profit-share joint venture with the Wesfarmers Liquefied Petroleum Gas project - for the six months to December 31.

AlintaGas said LPG prices have trended higher over the past several months than its budgeted levels and it has decided to take advantage of market conditions to lock in favourable hedging positions.