Country Energy

Country Energy
Company typePrivate (retail subsidiary of Origin Energy)
IndustryUtility
PredecessorGreat Southern Energy
NorthPower
Advance Energy
Founded2001 (2001)
Headquarters
Port Macquarie, New South Wales
,
Australia
Area served
New South Wales
Victoria
Queensland
South Australia
Australian Capital Territory
ServicesElectricity retail
Natural gas retail
RevenueIncrease A$2.3 billion (2008)[1]
Decrease A$23.2 million (2008)[1]
Total assetsIncrease A$4.6 billion at 2008-06-30[1]
Total equityDecrease A$0.9 billion at 2008-06-30[1]
Number of employees
4,000
ParentOrigin Energy
Websitewww.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

On 1 July 2001 Country Energy was formed by the merger of New South Wales rural-based energy retailers, Great Southern Energy, Advance Energy and Northpower - all statutory 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

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

  1. ^ a b c d "Country Energy Financial Results for the Year ended 30 June 2008". Country Energy. 2008-10-14. Archived from the original (PDF) on 18 May 2008. Retrieved 2009-02-23.
  2. ^ a b "Information about the sale of Country Energy's retail business to Origin". Origin Energy. 2011. Archived from the original on 21 March 2011. Retrieved 26 February 2012.
  3. ^ NSW Auditor General, Great Southern Energy Archived 2008-07-28 at the Wayback Machine, 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.

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