Core Viewpoint - AGL Energy Limited reported its FY26 half-year results, highlighting both challenges and growth opportunities in its operations and customer base [1][2]. Financial Performance - The statutory profit included a loss of $143 million on the fair value of financial instruments and $116 million in significant items, which comprised retail transformation costs of $45 million and an increase in onerous contract provisions of $42 million [2]. - Underlying EBITDA guidance has been narrowed to between $2.02 billion and $2.18 billion, an increase from previous guidance of $1.92 billion to $2.2 billion [8]. - Underlying net profit is now expected to be between $580 million and $680 million, compared to previous guidance of $500 million to $700 million [8]. Customer and Market Developments - AGL's total customer services rose by 108,000 to 4.7 million, with customer satisfaction increasing to a rating of 83.8, up from 81.6 in FY25 [3]. - The company’s energy generation was reported at 15.4 TWh for the half-year, a decrease of 2.8% year on year, while the energy generation fleet's performance improved to 80.1%, up 2.6 percentage points year on year [3]. Strategic Initiatives - AGL's software business Kaluza has shown customer growth, signing its third major customer, Engie, which may lead to further growth opportunities [4]. - AGL announced a long-term partnership with Aussie Broadband Ltd, divesting its telecommunications business and acquiring approximately $115 million in shares, equating to 7.5% of Aussie Broadband [5]. - The partnership aims to simplify customer market operations and reduce ongoing operating costs while maintaining the benefits of bundled offerings [6]. Future Outlook - AGL is targeting $50 million in sustainable net operating cost reductions for FY27, which is expected to enhance profitability [9]. - The company noted typical seasonality in customer gas and electricity demand and the gradual roll-off of lower-priced legacy gas supply contracts [9].