AGL’s Loy Yang site in VIC supports new EBA

Company News

by Jessica Amir

Employees at AGL Energy Limited (ASX:AGL)’s Loy Yang A power station and mine in Victoria have approved a new enterprise agreement, via a secret ballot.

The energy company expects final approval of the proposed new agreement, by the Fair Work Commission, will occur within weeks, after it immediately submits the agreement for immediately review.

AGL says the new EBA allows for salary increases, while it also provides operational flexibilities which are essential to the long-term sustainability of the site.

The company says the new EBA will close a significant period of uncertainty, while it will also give stakeholders confidence in the plant’s stable operations.

Shares in AGL Energy Limited (ASX:AGL) last traded about 2 per cent higher yesterday to $26.06.

 

Jessica Amir

Finance News Network
Jessica presents the Market Outlook and company news. She joined FNN in January 2017. She has been in broadcast journalism for over five years. She has worked as a journalist with Sky News Business, ABC 1 and ABC24. She has also worked in regional Australia for Prime 7 and WIN News. She is also a qualified financial planner and a Masters of Applied Finance student.