A state in flux
After a spate of withdrawals by overseas investors, the Australian energy market is undergoing a mass of structural and regulatory changes in an attempt to meet domestic demand. Grant Anderson reports
The past few years have seen major changes in the Australian energy industry – and yet more are to come. Following the flurry of transactions associated with the privatisation of the Victorian Government’s electricity and gas businesses in the mid- to late 1990s and the privatisation of the South Australian Government’s electricity businesses in 1999-2000, there have been a number of secondary sales. A significant driver for activity in the secondary sales market has been the withdrawal from Australia of a number of US power companies – a withdrawal that, in several cases, has been prompted by pressure to concentrate on and strengthen their core utility operations at home post-Enron.
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