AGL Acquiring Click Energy Group

AGL acquiring Click Energy

AGL announced Monday it is to acquire Click Energy Group Holdings Pty Ltd  for $115 million, providing a significant boost towards AGL’s customer targets.

Click Energy Group operates the Click Energy and Amaysim1 energy brands. It sells electricity to customers in New South Wales, Victoria, Queensland and South Australia, and gas to retail customers in New South Wales and Victoria.

The company kicked off in 2006 and operates primarily online, which helps to keep down overheads. Around 97% of Click Energy customers using online billing.

Click Energy And Solar Power

The company offers solar customers various plans offering different incentives depending on the state – their current feed in tariff rates:

  • Victoria: 12c – 13c
  • New South Wales: 11c – 16c
  • Queensland: 8c – 12c
  • South Australia: 14c – 17c

Click Energy’s lower feed in tariff rates are associated with a lower rate for mains supplied electricity. As we’ve mentioned previously, the best electricity plans for solar owners are usually those that offer a balance of good feed-in tariff rate, low supply and daily charges.

Just on that note – while this doesn’t apply in Click Energy’s case, navigating the plans a single retailer offers solar owners can be a frustrating task, let alone comparing offers from all electricity retailers.

This is where SolarQuotes’ electricity plan comparison tool can be very handy for owners of systems or those considering installing solar panels who want to locate the best deal. It shows energy retailers that would provide the cheapest bills over 12 months for a typical solar power system owner in any Australian postcode. You can use it to see how Click Energy stacks up against its competitors – including AGL.

Acquisition Brings AGL Closer To Target

AGL is chasing a target of 4.5 million customer services by 2024. The acquisition of Click Energy will provide a boost of  approximately 215,000 energy services customers, bringing AGL to almost 4.2 million. The company has seen significant growth in the last 3 years – back in August 2017, it claimed to have 3.6 million residential and business customer accounts across New South Wales, Victoria, South Australia and Queensland.

“With AGL’s cost to serve already below that of Click Energy’s, we believe we will be able to unlock further value as these customers share in further benefits from our continuing investment in automation, optimisation and digitisation,” said AGL Managing Director and CEO, Brett Redman.

AGL says completion of the acquisition of Click Energy is expected to occur on or by the end of this month, subject to customary conditions being satisfied.

Footnotes

  1. Actually spelled “amaysim”, with a lower-case “a”, but this practice bugs the hell out of me. Yes, I’m looking at you too Sonnen.
About Michael Bloch

Michael caught the solar power bug after purchasing components to cobble together a small off-grid PV system in 2008. He's been reporting on Australian and international solar energy news ever since.

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