Ausgrid

Ausgrid
Company typePrivate
IndustryUtility
PredecessorEnergyAustralia
Founded1 March 2011 (2011-03-01)
Headquarters
Sydney
,
Australia
Area served
Sydney, Central Coast, Hunter Region
Key people
Marc England (CEO)[1]
ServicesElectricity distribution
OwnerAustralianSuper and IFM Investors - 50.4% Government of New South Wales - 49.6%
Websitewww.ausgrid.com.au
Ausgrid's Old HQ building, Sydney

Ausgrid is an electricity distribution company which owns, maintains and operates the electrical networks supplying 1.8 million customers servicing more than 4 million people in Sydney, the Central Coast and Hunter regions of New South Wales, Australia.[2] It was formed in 2011 from the previously state-owned energy retailer/distributor, EnergyAustralia, when the retail division of the company, along with the EnergyAustralia brand, was sold by the Government of New South Wales, and the remainder renamed Ausgrid.

Ownership

Ausgrid was wholly owned by the Government of New South Wales from 2011 to 2016. In 2016, the New South Wales Government offered the effective sale of a 50.4% stake in Ausgrid, through a 99-year lease.[3] Initial bidding was won by a consortium of State Grid Corporation of China and Cheung Kong Infrastructure Holdings. On 11 August 2016 the Federal Government intervened to block the proposal, citing national security concerns regarding foreign ownership of critical infrastructure.[3][4] In September 2016 the New South Wales Government instead accepted a bid from an Australian-based consortium of AustralianSuper and IFM Investors, for a sum of $16 billion.[5]

History

Ausgrid has received numerous complaints and requests for better stakeholder management and consultation of the local community. Ausgrid was seen as forcing their network capacity increasing (and therefore profit increasing) projects onto local residential communities. Affected residents groups from the suburbs of Leichhardt,[6] Penshurst[7][8] and East Lindfield[9][10] protested against proposed electricity infrastructure[11] being installed in front of their residential homes without proper consultation or response to complaints by the community. The residents, after many urgent appeals to Ausgrid's former COO Trevor Armstrong and the former chairman Roger Massey-Green, had been given no other option to notify local MP's, the media, the Environmental Protection Authority and other authorities to get action against Ausgrid.[12]

Accusations were also made of Ausgrid "gold plating" its business at the expense of consumers to increase the price in privatisation. Ausgrid undertook the rapid replacement of its fleet of vehicles.[citation needed]

See also

References

  1. ^ Oates, Tayla (17 January 2023). "New Ausgrid CEO announced". Utility Magazine.
  2. ^ "About us". Ausgrid. 2018. Retrieved 23 May 2018.
  3. ^ a b "Treasurer blocks sale of Ausgrid to Chinese, Hong Kong bidders". ABC News. 11 August 2016. Retrieved 11 August 2016.
  4. ^ Massola, James; Wen, Phillip; Robins, Brian; Nicholls, Sean (11 August 2016). "Treasurer Scott Morrison blocks sale of Ausgrid to foreign bidders". The Sydney Morning Herald. -Fairfax Media. Retrieved 23 May 2018.
  5. ^ McNally, Lucy (20 October 2016). "Ausgrid sale: Baird Government sells half to Australian firms for $16 billion". ABC News. Australian Broadcasting Corporation. Retrieved 23 May 2018.
  6. ^ "High voltage debate rages on". www.dailytelegraph.com.au. 11 April 2013.
  7. ^ Galinovic, Maria (22 November 2013). "Residents tell Ausgrid: back off". St George & Sutherland Shire Leader.
  8. ^ Galinovic, Maria (2 December 2013). "Police intervene in stand-off between Ausgrid and angry Penhurst residents". St George & Sutherland Shire Leader.
  9. ^ "Action campaign in East Lindfield". www.dailytelegraph.com.au.
  10. ^ "Sparks fly as new cables laid". www.dailytelegraph.com.au. 27 March 2015.
  11. ^ Moore, Matthew (11 March 2011). "March of the tall grey poles has residents fuming". The Sydney Morning Herald.
  12. ^ "Ausgrid Fluid-filled cable replacement" (PDF). www.aer.gov.au.
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