Weather takes bite out of AGL's profit outlook Snapping strong earnings growth in recent years, energy utility AGL Energy has signalled a broadly flat profit outlook this financial year due to an unseasonably warm start to the financial year coupled with competitive pressures. However, competitive pressures are beginning to abate, shareholders will be told at today's annual general meeting. AGL is also expected to bid for electricity generation assets for sale in NSW, perhaps seeking to acquire units of Macquarie Generation, although any move will be subject to scrutiny by the competition watchdog, the Australian Competition and Consumer Commission.