Business Services Industry
Crucial time in power struggle.
Australasian Business Intelligence, June, 2002
ABIX via COMTEX) -- The merger of the Pulse Energy operations into those of TXU Networks is unlikely to be allowed. Australian competition regulator, the Australian Competition & Consumer Commission (ACCC), will probably block the bid by the Texas-based Victorian gas and electricity distributor for the utility jointly owned by Shell Company of Australia, Woodside Petroleum, AMP Limited, and the US-based entities, Aquila Energy and United Energy. This places rivals Origin Energy and Australian Gas Light Company (AGL) in an advantageous position. AGL has 229,000 Victorian electricity customers, but no gas customers. TXU Networks has 879,000 Victorian customers. A combined Pulse-TXU Networks entity would have 64 per cent of the market of Australia's south east coast. AGL...
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