Business Services Industry
State's power sale fires up.
Australasian Business Intelligence, January, 2003
Jan 13, 2003 (The Australian - ABIX via COMTEX)
The South Australian (SA) Government is anxious to achieve the sale of Flinders NRG. AGL, Origin Energy and Singapore Power are said to be among the companies considering buying Flinders NRG, which operates SA coal-fired power stations. The company has been up for sale for over a year. However, the fact that its US parent, NRG Energy, is said to be close to bankruptcy may hasten its sale. The SA Government's concern relates to an agreement between Flinders Osborne Trading (FOT) and the Osborne power station, on which FOT is said to have lost $A19 million last financial year. It has been estimated that Flinders NRG is not sold that the Government could be faced with a "$A140 million liability" in regard to the...
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