The undertaking requires AGL and GEAC to provide information to the ACCC concerning hedges, derivative transactions and power purchase agreements.
This undertaking replaces the s. 87B undertaking of 1 August, 2006, which itself replaced the s. 87B undertaking of 3 March, 2004.
AGL offered the undertaking to enable the ACCC to monitor its compliance with undertakings it gave to the Federal Court in 2004 in relation to its acquisition of an interest in Great Energy Alliance Corporation (Court Undertaking). Pursuant to the Court Undertaking, AGL agreed not to be involved in the marketing operations of the Loy Yang Marketing Management Company Pty Ltd (which manages the Loy Yang A power station); limited AGL's economic interest in the Loy Yang Power (which owns the Loy Yang A power station) to 35 per cent; and limited AGL's involvement in, and knowledge of, the dispatch and marketing activities of Loy Yang Power.
On 30 May 2012, the Federal Court ordered that the Court Undertaking offered to it by AGL in 2004 in relation to AGL’s acquisition of an interest in Great Energy Alliance Corporation be discharged with effect from 22 June 2012.
Pursuant to this order, the related undertakings offered to the ACCC by AGL to enable it to monitor AGL’s compliance with the Court Undertakings also cease to operate from 22 June 2012.
Variations
There are currently no variations to this register record.
