Energex
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| Type | Government-owned corporation |
|---|---|
| Industry | Energy |
| Founded | 1922 |
| Headquarters | Brisbane, Australia |
| Area served | South East Queensland |
| Key people | Terry Effeney CEO John Dempsey Chairman |
| Products | Electricity, LPG and natural gas |
| Revenue |  A$1,467.9 million (2010) |
| Net income | A$185.2 million (2010) |
| Total assets | A$8,811.6 (2010) |
| Owner(s) | Government of Queensland |
| Employees | 3,800 |
| Website | www.energex.com.au |
| References: [1] | |
Energex is an Australian energy company owned by the Queensland Government. It is based in Brisbane and was founded in 1922 as the City Electric Light Co. (CEL). From 1977 to 1997, prior to the formation of the National Electricity Market (NEM), the company was known as the South East Queensland Electricity Board (SEQEB), the role of which was to provide electricity to South East Queensland.
Following the formation of the NEM, the SEQEB was corporatised in 1997, becoming Energex. It established itself as a multi-utility provider, supplying LPG and natural gas in addition to electricity, and expanded its operations into the southern states, and now supplies gas to New South Wales and Victoria.
The current CEO of Energex is Mr Terry Effeney. Energex's head corporate office was previously located at 150 Charlotte Street, Brisbane. The company has recently finalised relocation to a new purpose built office building adjacent to Breakfast Creek Road, Newstead, at an old gasworks site. Construction works commenced in June 2008 and were completed in the first half of 2010. The street address of ENERGEX's new corporate headquarters is 26 Reddacliff Street, Newstead. It is Queensland's first 6 Greenstar commercial building.[citation needed]
Energex employed 3,800 workers at the end of the 2010 financial year.[1]
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[edit] Sale
In 2006, the Queensland Government announced plans to privatise the retail arm of the business and its Allgas distribution network in southeast Queensland. The Allgas Distribution Network was sold to Australian Pipeline Trust for $521 million. The electricity distribution network remains in public ownership.
Energex Retail Ltd, the Merchant Energy business of Energex Ltd, was sold in a business unit auction to Origin Energy Ltd for A$1.2 billion.[2] The official hand over took place in February 2007.
Origin Energy purchased a customer base of approximately 800,000 from the New South Wales border to a line just north of the Brisbane River (mostly following Kedron Brook), whilst AGL Energy purchased a customer base of the remaining approximately 400,000 customers north from this line to Gympie and the Sunshine Coast.
Full Retail Contestability from 1 July 2007 allows electricity customers to choose their electricity retailer. About 19 new retailers (including Origin and AGL) have entered into the Queensland market.
[edit] See also
[edit] References
- ^ a b "Energex Annual Report 09/10". Energex Limited. http://www.energex.com.au/__data/assets/pdf_file/0006/26673/2009-10_Annual-Report.pdf. Retrieved 12 June 2011.
- ^ ENERGEX - media centre - media releases
[edit] External links
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