Ausgrid
 |
|
| State government owned | |
| Industry | Utility |
| Predecessor | EnergyAustralia |
| Founded | 1 March 2011 |
| Headquarters | Sydney, Australia |
|
Key people
|
Trevor Armstrong Roger Massey-Green |
| Services | Electricity distribution |
| Owner | Government of New South Wales |
| Parent |
Government of New South Wales (49.6%) IFM Investors & AustralianSuper (50.4%) |
| Website | www |
Ausgrid is a state owned electricity infrastructure company, which owns, maintains and operates the electrical distribution networks to 1.6 million customers in Sydney, Central Coast, Hunter Region and Newcastle areas of New South Wales. 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.
The company is owned by the Government of New South Wales; and it has two shares, one each held by the Minister for Finance, Services & Property and the Treasurer of New South Wales respectively. In October 2016, a 99-year lease for 50.4% of the business was sold.
In 2016, the NSW Government is offered 99-year lease and 50.4 percent of the business to bidders. This has been opposed by the trade unions and the ALP. On 11 August 2016, the Federal Treasurer Scott Morrison made preliminary decision to block the sale to the consortium of State Grid Corporation of China and Cheung Kong Infrastructure Holdings on the basis of national security concerns.
In October 2016, IFM Investors and AustralianSuper were announced as the successful bidders.
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Wikipedia