Citi expects the fiscal first-half earnings of AGL Energy (ASX:AGL) and Origin Energy (ASX:ORG) to track below the fiscal year 2026 guidance mid-point run rate due to recent market conditions, the Australian Financial Review reported, citing Citi analyst Tom Wallington.
Lower spot prices impacted physical generation revenue and market contracts for energy firms during the half, while low volatility will limit cap pay-offs.
A stronger second-half bias is expected to offset with a return of volatility to the market.
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