- Babcock & Brown Power's Uranquinty Power Station
SummaryOrigin Energy Limited announced that it has acquired the Uranquinty Power Station from Babcock and Brown Power on 4 July 2008.
Market definitionThe ACCC considered the relevant markets to be:
- The wholesale supply of electricity in New South Wales,
- The supply of financial (hedge) contracts to New South Wales electricity retailers, and
- The retail supply of electricity to residential customers in New South Wales.
Competition analysisThe ACCC considered that Origin faces sufficient competitive constraints post-acquisition and that the acquisition is unlikely to cause a substantial lessening of competition in any of the relevant markets. This conclusion was informed by the following factors:
- The competitive constraint posed by the three state-owned generation businesses in NSW.
- The substantial market share of the major state-owned electricity retailers and the presence of a number of competing privately-owned electricity retailers in NSW.
- Origin's limited presence in the generation market and current absence of interest in any generation assets in NSW.
|04/07/2008||Origin Energy acquired Babcock & Brown Power's Uranquinty Power Station.|
|07/07/2008||ACCC commenced review under the Merger Review Process Guidelines.|
|21/07/2008||Closing date for submissions from interested parties.|
|01/08/2008||ACCC announced it would not oppose the acquisition.|