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 is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.