ERM Power
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| Public | |
| Traded as | ASX: EPW |
| Industry | Energy |
| Founded | February 1980, listed 10 December 2010 |
| Headquarters | Level 52, 111 Eagle St, Brisbane QLD 4000 |
| Products | Gas and electricity |
| Website | www.ermpower.com.au |
ERM Power is an Australian energy company that operates electricity sales and electricity generation businesses.
ERM Power's subsidiary, ERM Power Retail Pty Ltd (trading as ERM Business Energy), is the only energy retailer licensed to sell electricity in all Australian states, the Australian Capital Territory and Northern Territory. Since launching in 2007, ERM has grown to become the 4th largest seller of electricity in the country and the 2nd largest to large business customers by volume of electricity sold. ERM Power, through its subsidiary Source Power & Gas, is also licensed to sell electricity in several markets in the United States. ERM Power exclusively focuses on selling electricity to business customers.
ERM Power has equity interests in 497 megawatts of low emission gas-fired peaking power generation assets comprising 100% of the 332 megawatt Oakey Power Station in Queensland and 50% of the 330 megawatt Neerabup Power Station in Western Australia, both of which it operates. ERM Power is one of Australia’s largest power development companies having led the development of more than 2,000 megawatts of power generation projects: Oakey, Braemar 1 and Braemar 2 in Queensland; Uranquinty in New South Wales; and Kwinana and Neerabup in Western Australia. It has divested its interests in Braemar 1, Braemar 2, Uranquinty and Kwinana.
ERM Power was founded by Trevor St Baker as a specialist Australian energy advisory firm in 1980. The company transformed into a power development company in the mid-1990s to capture opportunities arising from the deregulation of the Australian electricity industry. In 2007 the company diversified into electricity retailing in response to further privatisation and vertical integration of the Australian energy industry. ERM Power listed on the Australian Securities Exchange on 10 December 2010. It launched the ERM Business Energy brand in 2012, commenced retailing to the small and medium enterprise (SME) market in 2013 and entered the U.S. retail electricity market by acquiring Source Power & Gas headquartered in Texas in 2015.
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