Energy giant AGL has posted an underlying net profit of $399 million for the first half of the financial year – it’s notable because it’s quadruple the profit recorded 12 months earlier and is 28% higher than predicted. AGL’s share price was up 15% on the news, to the delight of investors… The company says better market conditions and higher wholesale electricity pricing are behind the bumper result. And it’s that second reason why many customers are not quite as happy as its shareholders… Following recent talk of price gouging in Oz, AGL was on the defensive yesterday, with boss Damien Nicks saying the profit is a correction on the previous “very, very tough financial year”. Analysts have also tipped wholesale power costs to moderate this year, and that could also mean lower bills for customers. We can but dream…