States continue huge sale of energy assets

Courier Mail
23/01/2008 Page: 70

THE Queensland Government last year started privatising its energy assets by selling its retail assets for almost $3 billion. It has just sold its wind farms to Transfield Services Infrastructure Funds for $460 million and its Enertrade gas supply business to AGL and Arrow Energy for $268 million. There is speculation it will sell its generation assets, which include CS Energy, Stanwell and Tarong Energy.

The NSW Government has held talks with the Australian Competition and Consumer Commission as it pushes ahead with a $15 billion-plus partial privatisation of the electricity industry. The privatisation will involve the sale of the retail arms of EnergyAustralia, Integral Energy and Country Energy, and the long-term lease of generators Macquarie Generation, Delta Electricity and Eraring Energy.

The ACCC has previously voiced concern about big conglomerates forming in the energy sector.