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February 14, 2016 5:29 AM ET

Electric Utilities

Company Overview of Ergon Energy Corporation Limited

Company Overview

Ergon Energy Corporation Limited, together with its subsidiaries, retails and distributes electricity to homes and businesses in regional Queensland, Australia. It builds and maintains electricity distribution networks; offers manufacturing and high voltage diagnostic services; and provides telecommunication and open market wholesale high-speed data services. The company also owns and operates a gas-fired power station at Barcaldine; and 33 stand-alone power stations that supply power to communities. Its electricity network consists of 160,000 kilometers of power lines and 1 million power poles. The company supplies electricity to approximately 720,000 customers. Ergon Energy Corporation Lim...

420 Flinders Street

Townsville, QLD 4810

Australia

Founded in 1999

4,349 Employees

Key Executives for Ergon Energy Corporation Limited

Chief Executive Officer
Chief Operating Officer and Executive General Manager of Customer Service
General Counsel and Company Secretary
Compensation as of Fiscal Year 2015.

Ergon Energy Corporation Limited Key Developments

Government Plans Power Mergers

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".

People Oppose Government's Privatization Policy

More than 70 people gathered on June 12, 2014 to voice their opposition to the Newman Government's proposal to sell or lease some state assets which included Stanwell Power Station for sale, Gladstone Ports Corporation Limited for lease and Ergon Energy Corporation Limited to be privatised. Secretary of The Services Union, Neil Henderson said the loss of these assets would have a major impact on the Rockhampton region. "We think there's no reason to do it," Henderson said. "Queensland isn't in an economic crisis." Henderson said when companies were privatised, ongoing employment was minimal, with most jobs being contracted. He said there would be a flow-on effect for the local community if workers lost their jobs. In the case of Ergon Energy, Henderson said there was no doubt power bills would increase. Henderson said the government should instead be focused on creating jobs. People at the rally were addressed by Member for Rockhampton Bill Byrne and Labor's candidate for Keppel Brittany Lauga. Byrne said the government had not looked at any alternatives to asset sales. "Their agenda hasn't changed one iota," he said. Byrne said Labor and the union movement would work very closely to take on a "frightening agenda". "It's an agenda that's been deliberately constructed to facilitate the sale of major assets of this state," he said.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 15, 2015
Energex Limited
 

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