0038 GMT - AGL Energy would benefit if Australia's federal government follows through on its election promise to subsidize household batteries, Macquarie analysts say. They tell clients in a note that the policy would favor AGL by creating demand in the middle of the day, reducing peak pricing. They also point out that, while batteries reduce grid-energy consumption, home storage encourages the uptake of electric vehicles and broader electrification. There are also earnings benefits from energy suppliers' expansion of the virtual power plants created by a network of home batteries, they add. Macquarie keeps an outperform rating and A$12.29 target price on the stock, which is up 1.0% at A$10.18. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 07, 2025 20:38 ET (00:38 GMT)
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