SP AusNet (SPN)

Shares / Stock Code

SPN

Stock Exchange / Sharemarket

ax

SP AusNet (SPN) is a leading energy delivery business, with operations in Australia and New Zealand. The Company is focused on the supply of gas and electricity along with the transmission of electricity. To date the company employs over 1,300 staff, engaged in the management of around $6.3 billion electricity and gas network, providing services in excess of one million consumers in south east Australia. SP AusNet listed on the Australian Stock Exchange on 14th of December, 2005. Its electricity distribution segment delivers electricity to over 599,000 consumer supply points of more than 80,000 square kilometers in eastern Victoria, also comprising the outer eastern suburbs of Melbourne. Its gas distribution division supplies natural gas to around 537,000 consumer connection points of about 60,000 square kilometers in central and western Victoria, including some of western suburbs of Melbourne. Electricity transmission division is engaged in the transmission of electricity in the state of Victoria. The Company carries out its operations through operating group companies, which are SPI Electricity Pty Ltd, SPI Networks (Gas) Pty Ltd and SPI PowerNet Pty Ltd. The Company’s electricity distribution division is not involved in the sale or purchase of electricity. The Company concentrates on the steady improvement of its performance through the investment in upgrades and the maintenance of its networks.

SP AusNet History

In 2000, Singapore Power Limited (SPL) purchased the transmission business of GPU Electric. It took over the electricity and gas distribution businesses from TXU in 2004, and acquired the operations of electricity generation, electricity and gas retail businesses along with an interest in the South East Australia Gas gas pipeline, which are jointly known as the Merchant Energy Business or ‘‘MEB’. In August 2005, SPL sold MEB to CLP Power, excluding the electricity and gas distribution businesses.