AGL Cops $800,000 in Fines for ‘Best Offer’ Errors

AGL Cops $800,000 in Fines for ‘Best Offer’ Errors
AGL Power Station at Torrens Island in Adelaide, Australia, on Nov. 4, 2019. AAP Image/Kelly Barnes
AAP
By AAP
Updated:
0:00

Almost $800,000 (US$508,000) in penalties have been paid out by Australian energy provider AGL after it allegedly failed to provide customers with correct best offer advice.

Victoria’s independent economic regulator accused AGL of failing to calculate its “deemed best offer” check in line with a prescribed formula for 22 customers from March to June 2022.