ELECTRIC POWER DISTRIBUTION – NEW SOUTH WALES

Super funds $16b swoop on Ausgrid

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith, Sarah Thompson, Anthony Macdonald, Geoff Winestock, Jenny Wiggins
The Australian Financial Review – Page: 1 & 12 : 21-Oct-16

The New South Wales Government’s deal to sell a 50.4 per cent stake in Ausgrid to AustralianSuper and IFM Investors without undertaking a competitive auction process may come under scrutiny. Some observers believe that the Government could have gained a better price for the electric power distributor if other interested parties had been allowed to bid. The Government opted to accept the unsolicited $A16.189bn offer from the two superannuation groups. The fact that they are both Australian companies was seen to be attractive, as the deal did not need to be approved by the Foreign Investment Review Board.

CORPORATES
AUSGRID PTY LTD, AUSTRALIANSUPER PTY LTD, IFM INVESTORS PTY LTD, NEW SOUTH WALES. THE TREASURY, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, STATE GRID CORPORATION OF CHINA, CHEUNG KONG INFRASTRUCTURE HOLDINGS LIMITED, QIC LIMITED, HASTINGS FUNDS MANAGEMENT LIMITED, TRANSGRID, ENDEAVOUR ENERGY LIMITED, RBC CAPITAL MARKETS

Ausgrid HK bidder asks, ‘why us?’

roymorgansocial Leave a comment

Original article by Phillip Coorey, Lisa Murray
The Australian Financial Review – Page: 1 & 4 : 12-Aug-16

Federal Treasurer Scott Morrison’s preliminary decision to block bids by Hong Kong’s Cheung Kong Infrastructure and China’s State Grid for a 50.4 per cent stake in Ausgrid is likely to antagonise the Chinese Government. Morrison justified his decision by citing national security concerns. Former ambassador to China Geoff Raby has spoken about new populism in Australia while Bob Carr, the former premier of New South Wales and now director of the Australia-China Relations Institute, has accused the Federal Government of xenophobia.

CORPORATES
AUSGRID PTY LTD, STATE GRID CORPORATION OF CHINA, CHEUNG KONG INFRASTRUCTURE HOLDINGS LIMITED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, NEW SOUTH WALES. THE TREASURY, ONE NATION PARTY, KATTER’S AUSTRALIAN PARTY, PORT OF DARWIN, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, UNIVERSITY OF TECHNOLOGY, SYDNEY. AUSTRALIA-CHINA RELATIONS INSTITUTE

Foreign TransGrid bidders face scrutiny

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 7-Aug-15

Bidders for the New South Wales Government-owned TransGrid will soon lodge indicative offers. Their bids will be closely scrutinised by the Foreign Investment Review Board, because of the involvement of foreign parties in the bidding process. Treasurer Gladys Berejiklian said the State Government will retain influence over the privatised entities through regulatory, planning and licensing powers.

CORPORATES
TRANSGRID, AUSGRID PTY LTD, ENDEAVOUR ENERGY LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, NEW SOUTH WALES. THE TREASURY, CHEUNG KONG (HOLDINGS) LIMITED, STATE GRID CORPORATION OF CHINA, CHINA SOUTHERN POWER GRID COMPANY LIMITED, MACQUARIE INFRASTRUCTURE INVESTMENT MANAGEMENT LIMITED, CHINA INVESTMENT CORPORATION, GLOBAL INFRASTRUCTURE PARTNERS, ELECTRANET SA, NATIONAL ELECTRICITY MARKET MANAGEMENT COMPANY LIMITED, JEMENA LIMITED, AUSNET SERVICES HOLDINGS PTY LTD – ASX ANV, SINGAPORE POWER LIMITED

NSW’s $13b power sale gets green light

roymorgansocial Leave a comment

Original article by Will Glasgow
The Australian Financial Review – Page: 7 : 4-Jun-15

The New South Wales Government will shortly begin the sale process for the electricity network, with the enabling legislation set to be passed by Parliament in early June 2015. The Government has secured the support of the Christian Democratic Party after agreeing to guarantee some 6,670 jobs for the next five years. However, Mark Lennon of Unions NSW says the Government should have included staff transfer payments in the privatisation bill.

CORPORATES
CHRISTIAN DEMOCRATIC PARTY (FRED NILE GROUP), NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIAN ENERGY REGULATOR, TRANSGRID, NETWORKS NSW PTY LTD, AUSGRID PTY LTD, ENDEAVOUR ENERGY LIMITED, UNIONS NSW, DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD

Baird to stop Liberal rot

roymorgansocial Leave a comment

Original article by Geoff Winestock
The Australian Financial Review – Page: 1 & 5 : 23-Mar-15

The latest Fairfax Media-Ipsos poll shows that the New South Wales (NSW) Coalition has 54 per cent support on a two-party preferred basis, compared with 46 per cent for the Australian Labor Party. The poll, which was carried out from 19-21 March 2015, also shows that 48 per cent of NSW electors support the proposed partial sale of the state’s electricity network, while 47 per cent are against it. However, 61 per cent oppose the sale unless the proceeds are invested in new infrastructure projects

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, IPSOS AUSTRALIA PTY LTD, LIBERAL PARTY OF NEW SOUTH WALES, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL-NATIONAL PARTY OF QUEENSLAND, VICTORIA. DEPT OF PREMIER AND CABINET, THE GREENS NSW INCORPORATED, CHRISTIAN DEMOCRATIC PARTY (FRED NILE GROUP), SHOOTERS AND FISHERS PARTY INCORPORATED, NO LAND TAX PARTY, REACHTEL PTY LTD

Biggest power buyers back electricity sales

roymorgansocial Leave a comment

Original article by Will Glasgow
The Australian Financial Review – Page: 1 & 12 : 5-Mar-15

Energy-intensive companies such as Boral and Orora support the New South Wales Government’s proposal to privatise the state’s electricity network if it wins the 2015 election. Energy Users Association of Australia CEO Phillip Barresi has rejected warnings from trade unions that selling the state’s "poles and wires" will result in higher electricity prices. Some 5,000 people attended a union-organised anti-privatisation rally outside Parliament House on 4 March

CORPORATES
BORAL LIMITED – ASX BLD, ORORA LIMITED – ASX ORA, ENERGY USERS ASSOCIATION OF AUSTRALIA, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, ELECTRICAL TRADES UNION, AUSTRALIAN ENERGY REGULATOR, NEW SOUTH WALES. INDEPENDENT PRICING AND REGULATORY TRIBUNAL, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, WOOLWORTHS LIMITED – ASX WOW, McKELL INSTITUTE

ACCC endorses $13b power sale

roymorgansocial Leave a comment

Original article by Will Glasgow
The Australian Financial Review – Page: 9 : 19-Feb-15

The Australian Competition & Consumer Commission (ACCC) has no objections to the New South Government’ plans to partially lease the state’s electricity network. The Government wants to offer 99-year leases, which would cover 49 per cent of the state’s electricity and distribution businesses. ACCC chairman Rod Sims said on 18 February 2015 that the initiative would result in lower prices for households

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIAN ENERGY REGULATOR, FAIRFAX MEDIA LIMITED – ASX FXJ, IPSOS AUSTRALIA PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Baird to launch new sales pitch for poles, wires

roymorgansocial Leave a comment

Original article by Sean Nicholls
The Sydney Morning Herald – Page: 3 : 25-Nov-14

Public opinion polling by Fairfax/Ipsos indicates that New South Wales (NSW) Premier Mike Baird may be making gains in his attempt to convince voters of the merit in electricity distribution asset sales. He is linking the funds to be raised in the privatisation to investment in new infrastructure. This includes an extra $A300m for bus lanes, and $A600m for cultural projects such as new arts precincts, maintenance work at the Sydney Opera House, and a new Sydney Modern wing for the Art Gallery of NSW

CORPORATES
NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, SYDNEY OPERA HOUSE, ART GALLERY OF NEW SOUTH WALES, INFRASTRUCTURE NEW SOUTH WALES, FAIRFAX MEDIA LIMITED – ASX FXJ, IPSOS AUSTRALIA PTY LTD, AUSTRALIAN LABOR PARTY