AGL Energy Limited
(ASX:AGL) has announced it has been granted approval by the Fair Work Commission to terminate its Loy Yang Enterprise Agreement (EA).
AGL says the termination of the old EA allows the company to remain competitive and modernise its bargaining agreements.
AGL has been in negotiation for 18 months with the unions at Loy Yang.
In that time, the company says union members have rejected two pay rises of over 20 per cent.
AGL posted a net loss of $407 million at 30 June 2016.
