Envestra (ENV)

Shares / Stock Code

ENV

Stock Exchange / Sharemarket

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Envestra Limited (ENV) is an Australia-based company engaged in the ownership of gas reticulation assets. It provides its retailers with natural gas haulage services through the distribution networks as well as the transmission pipelines it owns and it manages. Envestra Limited distributes natural gas to more than 900,000 consumers in different regions in Australia such as Victoria, Queensland, South Australia, Northern Territory and New South Wales. ENV was listed on the Australian Stock Exchange on the 29th of August 1997. Its average annual revenue reaches approximately $169 million out of its issued capital of approximately $215 million. Its headquarters is located in Adelaide, Australia and to date; around 13 employees are employed in the company.

Envestra Limited had entered a number of operating agreement with different entities. Included in these entities is the Origin Energy Asset Management which serves as the primary subcontractor of Envestra. It is in charged of the operation, maintenance and extension of the company's gas distribution networks. Moreover, the retailers hire the service of Envestra to transport gas to the customers of the retailers through the company's networks. The amount of charges and fees to be paid by these retailers are stipulated in the access arrangement the company assigned to its distribution networks.

Envestra Limited maintains four types of assets. The natural gas is transported and distributed to the company's retailer's customers through the low, medium and high pressured pipes maintained by the company. It may also be distributed through the inlets that pass through the pipes on the streets going to the property of the consumers. The company also maintains pressure regulators which are in charged of aiding the company to maintain an adequate pressure throughout the distribution networks. ENV also owns metering equipment which is used to record the gas that enters the systems as well as the gas usage of consumers.

Envestra Company History

South Australian Gas Company (SAGASCO), Gas Corporation of Queensland (GCQ) and Centre Gas Pty Ltd established Envestra in August 1997. SAGASCO and GCQ were distributors and retailers since the 1860s.

Envestra had spent about $1.2 billion in getting a distribution business in Victoria in March 1999 and this resulted to $2.1 billion assets of the company. In addition, distribution networks rose to about 17,000 kilometers and increased numbers of natural gas consumers to 835,000. The company’s properties today are about 18,800 kilometres of networks and 1,100 kilometres of transmission pipelines. The company also has over 950,000 gas consumers. The first quarter of 2005 saw almost 6,000 customers acquired.