From Surf Wiki (app.surf) — the open knowledge base

Ausgrid

State owned electricity infrastructure company

Field	Value
name	Ausgrid
logo	Ausgrid.png
type	Private
predecessor	EnergyAustralia
foundation
defunct
location_city	Sydney
location_country	Australia
area_served	Sydney, Central Coast, Hunter Region
key_people	Marc England (CEO)
industry	Utility
services	Electricity distribution
owner	AustralianSuper and IFM Investors - 50.4%
homepage

Government of New South Wales - 49.6%

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. 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. 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. 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.

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, Penshurst and East Lindfield protested against proposed electricity infrastructure 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.

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.

References

(17 January 2023). "New Ausgrid CEO announced".
(2018). "About us". Ausgrid.
(11 August 2016). "Treasurer blocks sale of Ausgrid to Chinese, Hong Kong bidders".
(11 August 2016). "Treasurer Scott Morrison blocks sale of Ausgrid to foreign bidders". -Fairfax Media.
McNally, Lucy. (20 October 2016). "Ausgrid sale: Baird Government sells half to Australian firms for $16 billion". Australian Broadcasting Corporation.
(11 April 2013). "High voltage debate rages on".
Galinovic, Maria. (22 November 2013). "Residents tell Ausgrid: back off".
Galinovic, Maria. (2 December 2013). "Police intervene in stand-off between Ausgrid and angry Penhurst residents".
"Action campaign in East Lindfield".
(27 March 2015). "Sparks fly as new cables laid".
Moore, Matthew. (11 March 2011). "March of the tall grey poles has residents fuming".
"Ausgrid Fluid-filled cable replacement". www.aer.gov.au.

Info: Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

companies-based-in-sydney energy-companies-established-in-2011 government-owned-companies-of-new-south-wales electric-power-distribution-network-operators-in-australia australian-companies-established-in-2011 privately-held-companies-of-australia government-owned-energy-companies-of-australia

Want to explore this topic further?

Ask Mako anything about Ausgrid — get instant answers, deeper analysis, and related topics.

Research with Mako

Free with your Surf account

Content sourced from Wikipedia, available under CC BY-SA 4.0.

This content may have been generated or modified by AI. CloudSurf Software LLC is not responsible for the accuracy, completeness, or reliability of AI-generated content. Always verify important information from primary sources.

Report