July 23, 2014 9:37 AM ET

Electric Utilities

Company Overview of Ergon Energy Corporation Limited

Company Overview

Ergon Energy Corporation Limited, together with its subsidiaries, is engaged in the retail and distribution of electricity to homes and businesses in regional Queensland, Australia. It operates and maintains an electricity distribution system; and provides electricity related contracting and other services, including wholesale telecommunication services. The company also operates 55 megawatts gas-fired power station at Barcaldine, which supplies power into the electricity grid; 33 stand-alone power stations that supply power to communities; and 220 kilovolts of electricity transmission network in the Mount Isa region. In addition, its electricity network consists of 160,000 kilometers of pow...

34-46 Dalrymple Road

Garbutt, QLD 4814

Australia

Founded in 1999

4,435 Employees

Key Executives for Ergon Energy Corporation Limited

Chief Financial Officer
Chief Operating Officer and Executive General Manager of Operations
Executive General Manager of Asset Management
Company Secretary and General Counsel
Executive General Manager of Customer Service
Compensation as of Fiscal Year 2014.

Ergon Energy Corporation Limited Key Developments

People Oppose Government's Privatization Policy

More than 70 people gathered on June 12, 2014 to voice their opposition to the Newman Government's proposal to sell or lease some state assets which included Stanwell Power Station for sale, Gladstone Ports Corporation Limited for lease and Ergon Energy Corporation Limited to be privatised. Secretary of The Services Union, Neil Henderson said the loss of these assets would have a major impact on the Rockhampton region. "We think there's no reason to do it," Henderson said. "Queensland isn't in an economic crisis." Henderson said when companies were privatised, ongoing employment was minimal, with most jobs being contracted. He said there would be a flow-on effect for the local community if workers lost their jobs. In the case of Ergon Energy, Henderson said there was no doubt power bills would increase. Henderson said the government should instead be focused on creating jobs. People at the rally were addressed by Member for Rockhampton Bill Byrne and Labor's candidate for Keppel Brittany Lauga. Byrne said the government had not looked at any alternatives to asset sales. "Their agenda hasn't changed one iota," he said. Byrne said Labor and the union movement would work very closely to take on a "frightening agenda". "It's an agenda that's been deliberately constructed to facilitate the sale of major assets of this state," he said.

Ergon Energy In Talks To Sell Forestry Assets

The Queensland government is embarking on another sale of forestry assets, through its power subsidiary Ergon Energy Corporation Limited, as global groups remain in talks over a potential purchase of the Gunns business, estimated to be worth at least $400 million.

Ergon Energy to Build New Power-Lines for the Cairns Health Facilities and Cairns Airport over Next Four Months

Ergon Energy announced that it will build new power-lines for the Cairns health facilities and Cairns airport over next four months as a part of two separate projects worth around AUD 3.6 million. The first of the two projects will deliver a new underground supply from its Cairns North Substation in Manoora to a nearby health clinic on Arthur Street and also connecting to Cairns Airport. Along with the immediate benefits of better security of supply to the clinic and airport, the works will also reduce demand on the Kamerunga bulk supply point and allow better flexibility for future growth and emergency restoration. These works are expected to begin by mid-September. Meanwhile The company will build a direct supply feeder - known as an 'express' feeder - later this year to Cairns Base Hospital. Also originating at the Cairns North Substation, this new underground cable will cater for increased demand at the upgraded hospital site and significantly higher security of supply.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 3, 2014
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