Company Overview of Energex Limited
Energex Limited owns and manages energy distribution networks in Australia. It offers distribution services to domestic and business connections. Energex Limited was formerly known as South East Queensland Electricity Board and changed its name to Energex Limited in 1997. The company was founded in 1922 and is based in Newstead, Australia.
26 Reddacliff Street
Newstead, QLD 4006
Founded in 1922
Key Executives for Energex Limited
Executive General Manager of Finance, Regulation and Strategy
Chief Executive Officer of SPARQ Solutions
Director of Corporate Governance and Company Secretary
Company Secretary and Secretariat & Governance Manager
Compensation as of Fiscal Year 2014.
Energex Limited Key Developments
Government Plans Power Mergers
Mar 17 15
Under the Labor plan announced during the election, the state's power distributors, Energex Limited, Ergon Energy Corporation Limited and Queensland Electricity Transmission Corporation Limited (Powerlink Queensland) would be merged into one government-owned corporation. The government estimates it will save $150 million a year by the move, which will also see board and executive positions go, although Premier Annastacia Palaszczuk has also committed to no forced redundancies. The Electrical Trades Union said it was yet to formally discuss the matter with the government. "I will be meeting with the minister in relation to that over the coming weeks, but it is something we plan to do and it is high on my agenda," Palaszczuk said. As to whether details of the mergers would appear in this year's budget, which is set down for July 2015, the Premier said it was "a matter for the Treasurer".
State Grid Corporation of China Reportedly Retains HSBC For Acquisition Of Electricity Assets
Jan 19 15
State Grid Corporation of China has retained HSBC to advise it on the acquisition of up to $50 billion worth of electricity assets earmarked for sale by the Queensland and NSW governments. State Grid will rival three consortiums and other possible buyers, likely to include Cheung Kong Infrastructure Holdings Ltd. (SEHK:1038), advised by Credit Suisse and potentially Citigroup Inc. (NYSE:C). So far, consortiums in place are Australian Super, Canada Pension Plan Investment Board and Borealis Capital Corporation advised by Morgan Stanley and Goldman Sachs, and IFM Investors Pty Ltd and QIC limited, which may be representing interests of the Future Fund and could be taking advice from Barclays. Caisse de dépôt et placement du Québec is said to have joined the Hastings Funds Management Limited’s consortium with Spark Infrastructure Group (ASX:SKI), advised by JP-Morgan and Royal Bank of -Canada. Universities Superannuation Scheme Limited and Abu Dhabi Investment Authority were in talks to join Hastings before Christmas and could be still searching for partnership opportunities. Singapore Power Ltd is still considering whether to enter the bidding. A decision on whether the Queensland government sells its electricity assets will depend on the outcome of the January 31, 2015 election. Macquarie and Bank of America Merrill Lynch are handling the Queensland sales. The sale will begin with Powerlink Transmission Services Pty Ltd. valued between $10 billion and $12 billion, followed by Energex Limited and Ergon Energy Queensland Pty Ltd. with all assets collectively worth about $30 billion. The government will also sell a lease for 100% of its electricity transmission network TransGrid, for between $7 billion and $8 billion. This will be followed by sale of 50% stakes in Ausgrid and Endeavour Energy. About $20 billion collectively is expected from the sell down.
NSW Planning To Sell Stake In Firms
Jan 15 15
New South Wales (NSW) is planning to sell stake in entities. The government's final ‘Strong Choices’ plan estimates it would receive at least AUD 37 billion from leasing state assets including Ergon Energy Queensland Pty Ltd., Energex Limited, Queensland Electricity Transmission Corporation Limited (Powerlink), and the Port of Townsville Limited and Gladstone Ports Corporation Limited, among others.
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