The APA Group (ASX: APA) share price increased by almost 2% after announcing an agreement.
APA announced that it has entered into a new gas transportation agreement on the East Coast Grid with AGL Energy Ltd (ASX: AGL) commencing on 1 January 2020. This new two-year multi-asset, multi-service agreement replaces an expiring contract with AGL.
The annual contract value is at a similar level to the expiring contract.
Rob Wheals, CEO and Managing Director of APA said: "Our focus is to provide flexibility in our services to help customers like AGL manage their energy supply requirements. These are unique times in a dynamic energy market and our priority remains to ensure we deliver our customers services that they value, consistent with our Customer Promise. This contract agreement is in the result of us working closely with AGL for some time now to ensure we meet their needs as our customer, so they can in turn deliver to their customers."
The AGL Energy share price was flat after today's announcement by APA Group.
