ELECTRIC UTILITIES – AUSTRALIA

Utilities providers and the customer satisfaction challenge

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 28-Nov-16

Lumo Energy has won Roy Morgan Research’s Customer Satisfaction Award for September 2016 in the categories of electricity and gas utilities. Some 72% of Lumo’s electricity customers and 77% of its gas customers are satisfied with the company. Red Energy came second, satisfying just under 72% of its electricity customers and 74% of its gas customers in September. Meanwhile, some 7% of all electricity customers and 6% of all gas customers are outright dissatisfied with their utility provider. Roy Morgan’s Helix Personas consumer profiling tool shows that 14% of people in the category of Humanitarians are dissatisfied with their electricity provider, while the Still Working Persona has the highest level of dissatisfaction among gas customers (10%).

CORPORATES
ROY MORGAN RESEARCH LIMITED, LUMO ENERGY AUSTRALIA PTY LTD, RED ENERGY PTY LTD, ENERGYAUSTRALIA PTY LTD, KLEENHEAT GAS PTY LTD

Powering up: using the same supplier for electricity and gas

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 18-May-16

A Roy Morgan Single Source survey has found that 92 per cent of Australians aged 14+ who live in households connected to ActewAGL electricity also use the utility for gas. Meanwhile, 85.4 per cent of Alinta Energy customers use it for both gas and electricity, followed by AGL Energy (84.3 per cent) and Simply Energy (82.5 per cent). The survey, which was carried out in the year to March 2016, also shows that capital city dwellers (70.0 per cent) are far more likely than regional residents (52.8 per cent) to live in households with both electricity and gas connected to the same supplier. However, a considerably lower proportion of people living in regional areas have a gas connection.

CORPORATES
ROY MORGAN RESEARCH LIMITED, ACTEWAGL, AGL ENERGY LIMITED – ASX AGL, SIMPLY ENERGY, RED ENERGY PTY LTD

Demerger option looms for Origin

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 28 & 22 : 2-May-16

The commencement of production at the Australia Pacific LNG project means Origin Energy’s oil and gas business accounts for the biggest proportion of its operations. This will strengthen the case for those who advocate that Origin should spin off its electricity and gas retailing arm, which boasts 4.3 million customers. However, Origin has some $A9bn worth of debt, which would make a demerger difficult to pursue at present, particularly given the continued weakness of the crude oil price.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA PACIFIC LNG LIMITED, AGL ENERGY LIMITED – ASX AGL, CREDIT SUISSE (AUSTRALIA) LIMITED, BG GROUP PLC, CONOCOPHILLIPS, CREDIT SUISSE (AUSTRALIA) LIMITED, UBS HOLDINGS PTY LTD, SANTOS LIMITED – ASX STO, HONY CAPITAL, ENN HOLDINGS, SINOPEC CORPORATION, BORAL LIMITED – ASX BLD, ALLAN GRAY AUSTRALIA PTY LTD

Origin Energy chief open to discuss merger offers

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 & 24 : 4-Mar-16

Market watchers have suggested a number of future strategies for Origin Energy, including a demerger or merging its oil and gas assets with Santos. Origin MD Grant King says the group has not ruled out any of the options that have been mooted, but he notes that all such deals would be complex and take time to complete. Meanwhile, King has downplayed concerns about a modest delay in progress on completing the first two production trains at the Australia Pacific LNG project in Queensland.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA PACIFIC LNG LIMITED, SANTOS LIMITED – ASX STO, CREDIT SUISSE (AUSTRALIA) LIMITED, CONOCOPHILLIPS, SINOPEC CORPORATION, BECHTEL GROUP, KANSAI ELECTRIC POWER COMPANY INCORPORATED, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Origin shareholders hit with dividend cut

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 21 : 19-Feb-16

Shares in Origin Energy closed 8.7 per cent higher at $A4.23 on 18 February 2016, despite posting a 2015-16 interim loss of $A254m. The result was marred by a sharp decline in the crude oil price, which has impacted on Origin’s LNG project in Queensland. Origin’s underlying profit for the half-year fell from $A346m to $A254m. Shareholders will receive an interim dividend of $A0.10 per share, compared with $A0.25 previously.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, CONTACT ENERGY LIMITED – ASX CEN, JP MORGAN AUSTRALIA LIMITED, CITIGROUP PTY LTD, ALLAN GRAY AUSTRALIA PTY LTD, STANDARD AND POOR’S CORPORATION

AGL Energy shares hit 8-year high

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 27-May-15

AGL Energy has revealed details of its "strategic road map", which will include cost reductions and asset sales. AGL plans to divest its 50 per cent stake in the 420-megawatt Macarthur wind farm in Victoria, which is expected to fetch about $A500m. Some analysts believe that AGL will also sell its upstream gas business, while a decision on the Gloucester coal seam gas project will be made later in 2015. AGL shares closed 6.3 per cent higher at $A16.45 on 26 May.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, MACQUARIE GENERATION, MORGAN STANLEY AUSTRALIA LIMITED, AES CORPORATION, MACQUARIE WEALTH MANAGEMENT

Pressure is on for Snowy Hydro

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 11-Feb-15

Snowy Hydro CEO Paul Broad has downplayed speculation that privatisation may again be on the agenda for the government-owned power company. Meanwhile, he says the group needs to deliver on its growth forecasts and projected synergies in order to justify its acquisition of Lumo Energy and the Colongra gas-fired power station in 2014. Snowy Hydro boasts around $A1.2bn worth of debt following the acquisitions

CORPORATES
SNOWY HYDRO LIMITED, LUMO ENERGY AUSTRALIA PTY LTD, RED ENERGY PTY LTD, INFRATIL LIMITED – ASX IFZ, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, ENERGYAUSTRALIA PTY LTD, ONE.TEL LIMITED, INFRASTRUCTURE NEW SOUTH WALES

American import to steer AGL through times of change

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 26 : 19-Nov-14

AGL Energy CEO Michael Fraser will be succeeded by Andrew Vesey in February 2015. Vesey will receive a fixed salary of $A1.9m a year, plus short- and long-term incentives. US-born Vesey is currently the COO of AES Corporation, and has previously been CEO of Australian electricity network company CitiPower. AGL chairman Jeremy Maycock says there are unlikely to be significant changes to the energy group’s executive ranks under the new CEO

CORPORATES
AGL ENERGY LIMITED – ASX AGK, AES CORPORATION, CITIPOWER LIMITED, ERNST AND YOUNG, MACQUARIE GENERATION, UBS HOLDINGS PTY LTD, ORIGIN ENERGY LIMITED – ASX ORG, ENERGYAUSTRALIA PTY LTD