AGL Sustainability Report 2008

Delivering to the upper end of our revised guidance with an underlying Net Profit After Tax of $355.5M, up 7.6% on the previous year.
Paying fully franked dividends totalling 53 cents per share to our shareholders for the full year 2007/08.
Divesting non-core businesses in order to strengthen the balance sheet. These included disposing of our 33.0% ownership interest in AlintaAGL on 12 December 2007 and of our ownership of the Chilean gas distribution business GasValpo for combined after tax profit of $76.8M.

Growing our portfolio of renewable and conventional generation assets through the acquisition of the Torrens Island gas fired power station, the completion of the Hallett (Stage 1) Wind Farm and acquiring the rights to control dispatch from the Oakey and Yabulu gas fired power stations, growing the diversity of our physical generation portfolio.
Continuing the 140MW Bogong hydro development ahead of plan, with an expected operation expected in October 2009.
Taking our first step into the geothermal energy sector with a cornerstone investment in Torrens Energy. AGL hopes to have a pilot plant established within three years.

Successfully transferring over 1.6 million customer accounts to our new retail business platform, already realising cost savings of A$25 million per annum.

Being the first Australian company to provide a two-way market in future Australian Emissions Units. In May, AGL entered into Australia’s first carbon trade with Westpac Banking Corporation. Since then, our Carbon Solutions unit has played a market-leading role by finalising other carbon trades and we will continue to deal with interested parties in 2009.
Continuing to be an active member of the world’s largest voluntary and legally binding greenhouse gas emissions trading program, the Chicago Climate Exchange (CCX)