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AGL’s Retail Energy and Merchant Energy businesses both performed strongly. Increases in customer numbers offset the effects of a mild summer and warm winter, and reductions in average customer consumption of energy. 

## Retail Energy 

> Operating EBIT up by 9.1% to $332.8 million. 

> Gross margin per customer increased by 9.8%, even though average customer demand for energy declined. 

> Customer accounts up by 180,000, including 152,000 new electricity customers in New South Wales. 

> Dual fuel customer accounts up by 10.3% to 1.62 million. 

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## Merchant Energy 

> Operating EBIT up 21.3% to $549.7 million. 

> Hallett 5 and Oaklands Hill wind farms now fully operational, adding 120 MW to AGL’s renewable generation capacity. 

> Addition of Loy Yang A power station increases AGL’s total controlled generation capacity to 6,000 MW. 

> Good rainfall means AGL Hydro assets now able to operate at close to full capacity. 

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## Upstream Gas 

> Operating EBIT fell by 95.8% to $0.6 million, mainly as a result of reduced fees from developing underground gas storage. 

> Approvals granted to commence construction of Newcastle gas storage facility to be operational by 2015. 

> Proved plus probable (2P) gas reserves increased by 77PJ (3.7%). 

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