AGL to offload metering asset to Ausgrid

AGL Energy has agreed to sell its digital metering asset, Active Stream, to Ausgrid and expects to make a $25 million profit for the sale.

AGL Energy expects to make a $25 million profit on the sale of Active Stream to Ausgrid (AAP)

AGL Energy has agreed to offload its digital metering subsidiary, Active Stream, to Ausgrid.

The energy retailer expects to make a $25 million post-tax profit from selling Active Stream, which has installed more than 230,000 digital meters across NSW, Queensland and South Australia.

AGL expects the deal to be completed by early December and says it will continue to use Active Stream's digital metering services on a non-exclusive basis.