AGL Energy has demanded gas provider Weston Energy hand over long-term gas contracts that the energy giant says it needs to supply customers at lower prices after they were forcibly transferred to it after Weston’s retailing licence was suspended.
“Disappointingly, Weston looks to be seeking to frustrate the process with the intention of auctioning the gas for its own commercial gain,” a spokesman for AGL said. “Without certainty over the duration of access to these gas supply contracts and without the detail of which customers were on fixed price contracts, AGL is unable to offer fixed-price, fixed-term contracts to Weston’s relevant former customers,” the spokesman said.“We have followed the letter of the law and regulations,” Mr Simonian told“The rules state they get it for three months. After that, they revert to us, and if they are in the money, then we can auction them.
“The AER subsequently directed that the gas previously available under contracts with Weston be supplied to AGL, the designated retailer of last resort that became responsible for the majority of Weston’s customers,” a spokeswoman for the regulator said.
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