Country Energy

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Country Energy
Type Private (retail subsidiary of Origin Energy)
Industry Utility
Predecessors Great Southern Energy
NorthPower
Advance Energy
Founded 2001 (2001)
Headquarters Port Macquarie, New South Wales, Australia
Area served New South Wales
Victoria
Queensland
South Australia
Australian Capital Territory
Services Electricity retail
Natural gas retail
Revenue Increase A$2.3 billion (2008)[1]
Net income Decrease A$23.2 million (2008)[1]
Total assets Increase A$4.6 billion at 2008-06-30[1]
Total equity Decrease A$0.9 billion at 2008-06-30[1]
Employees 4,000
Parent Origin Energy
Website www.countryenergy.com.au
Country Energy utility vehicle

Country Energy, an Australian energy retail subsidiary of Origin Energy, provides natural gas and electricity to retail customers in New South Wales, Victoria, Queensland, South Australia and the Australian Capital Territory.[citation needed]. Since its establishment in 2001 and until 28 February 2011, Country Energy was owned by the Government of New South Wales.[2]

History[edit]

On 1 July 2001 Country Energy merged with Australian Inland rural-based energy retailer, Great Southern Energy owned by the Government of New South Wales.[3] In addition to electricity retailing, Country Energy operated Australia's largest electricity distribution network by area, covering 95% of the area of New South Wales as well as extending into small parts of Queensland and Victoria. It was one of developers of Directlink, a high voltage direct current electricity transmission line between New South Wales and Queensland transmission grids.[4]

In October 2010, Country Energy sold its natural gas network to Envestra Limited for A$108.6 million, which includes 65 kilometres (40 mi) of transmission and 1,160 kilometres (720 mi) of distribution pipelines.[5]

On 15 December 2010, the New South Wales Treasurer, Eric Roozendaal, announced that the retail division of Country Energy (including the Country Energy brand) was sold to Origin Energy as part of a A$3.25 billion deal.[6] As part of the sale of the retail business the electricity distribution division was separated from Country Energy and re-branded as Essential Energy on 1 March 2011.[2][7]

Operations[edit]

Country Energy has 870,000 customers, and annual revenues of $2.3 billion.[citation needed] It provides natural gas and electricity to retail customers in New South Wales, Victoria, Queensland, South Australia, and the Australian Capital Territory. The two contact centres are located in the New South Wales cities of Port Macquarie and Leeton.[citation needed]

References[edit]

  1. ^ a b c d "Country Energy Financial Results for the Year ended 30 June 2008" (PDF). Country Energy. 2008-10-14. Retrieved 2009-02-23. 
  2. ^ a b "Information about the sale of Country Energy's retail business to Origin". Origin Energy. 2011. Retrieved 26 February 2012. 
  3. ^ NSW Auditor General, Great Southern Engery, 2001
  4. ^ Grant-Taylor, Tony (20 December 2001). "APT buys DirectLink line". The Courier-Mail. Retrieved 12 June 2011. 
  5. ^ "Envestra buys Gas Networks". The Sydney Morning Herald. 26 October 2010. Retrieved 26 October 2010. 
  6. ^ "Board members resign over power sell-off". The Sydney Morning Herald. 15 December 2010. Retrieved 17 December 2010. 
  7. ^ Stevens, Rodney (1 March 2011). "Same company, different label". The Daily Examiner. Retrieved 1 March 2011. 

External links[edit]

Media related to Country Energy at Wikimedia Commons