Why the AGL Energy (ASX:AGL) share price is charging 5% higher

The AGL Energy Limited (ASX: AGL) share price is surging today. The positive price movement comes after the energy supplier announced it was proceeding with plans for increased green energy capacity at one of its plants.

At the time of writing, shares in the company are selling for $10.50 each – up 5.42%. In comparison the S&P/ASX 200 Index (ASX: XJO) is up 0.43%.

Let’s take a closer look at what’s boosting the AGL share price.

AGL’s announcement

Investors are loving the AGL share price today. In a media release, AGL confirmed it had submitted a planning application to the Victorian Government for a 200MW, 4-hour duration battery to be…