news AGL has announced the launch of a three-year, $300-million digital transformation programme aimed to improve customers’ experience with the company.
“Today we have announced an indicative $300 million capital expenditure program over three years to drive the digital transformation of our customers’ experience,” said AGL’s Managing Director and CEO, Andy Vesey.
“This is a key component of the delivery of our strategic framework to embrace transformation, drive productivity and unlock growth as the energy sector evolves,” he said.
ComputerWorld cited Vesey as saying: “[The transformation] is about delivering an industry leading digital experience to drive value for customers and ultimately change the quality of their relationship with AGL.”
The programme is aimed to deliver foundational capability, digital adoption and “signature moments”, according to the CEO.
“The digital adoption component relates to the digital enablement of all key customer interactions, such as signing up to AGL, billing, issue resolution and moving house,” Vesey told a briefing.
The announcement was made alongside the energy company’s financial report, which revealed that AMG has made a statutory loss after tax of $408 million for the financial year ended 30 June.
The firm put the losses largely down to its exit of gas exploration and production assets and changes in the fair value of certain electricity derivatives.
Despite the statutory loss, the firm said that this year’s figure was $626 million less than in the previous financial year and that ‘underlying profit’ was $701 million, up 11.3% from the previous financial year.
Underlying profit is statutory profit after tax adjusted for significant items and changes in the fair value of certain electricity derivatives.
“Our key generation assets, wholesale market operations and customer portfolios delivered a strong underlying profit result,” Vesey said in a statement announcing the results. “This reflects our focus on operational execution and driving value through margin and cost discipline at the same time as we undertake the transformation of AGL.
AGL said it expects to deliver earnings growth in the financial year 2017, noting that the current stronger wholesale electricity prices will moderate in the medium term.