ACCC not to intervene in acquisition of TXU Australia by SP Energy.

0 Comments | M2 Presswire, July, 2004

M2 PRESSWIRE-21 July 2004-ACCC: ACCC not to intervene in acquisition of TXU Australia by SP Energy(C)1994-2004 M2 COMMUNICATIONS LTD RDATE:07212004 The Australian Competition and Consumer Commission will not intervene in the acquisition by SP Energy of TXU Australia, ACCC Chairman, Mr Graeme Samuel, said today.

"The proposed transaction raised significant competition concerns regarding the joint ownership of parts of the National Electricity Market transmission network with merchant activities in generation and retail", Mr Samuel said. "However, following the offer of court-enforceable undertakings by SPE, the ACCC is satisfied that its concerns have been addressed. "The ACCC regards the structural separation of the operation and control of the...