Already a subscriber?AGL Energy is spending $150 million to take a 20 per cent stake in Kaluza, a technology platform that manages electricity supply and billing, in a move the utility hopes will transform its retail operations and deliver significant savings.sold a majority stake in its Australian retailing business
“We bought into Ovo, it was absolutely our intent to start small and see what we can achieve,” Jo Egan, AGL’s chief customer officer, said in an interview. “We need excellent energy technology to support customers in a world where we’ll have far greater distributed energy resources and customer-owned assets.”
AGL Energy chief executive Damien Nicks hopes the $150 million investment will transform his retail business.
“The technology market is changing materially with the emergence of new core utility platforms offering greater flexibility and speed, which makes it imperative to partner with industry leaders, and is why we have chosen Kaluza.”