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Infratil Email Update Victoria Electricity

22 Sep 2008

Victoria Electricity had 365,000 customers at the end of August. Current growth is targeted in Victoria where the commercial climate is most favourable. Sales have been curtailed in Queensland pending improvement in market conditions and regulatory environment. Growth rates are expected to be lower over coming months compared to earlier in 2008 owing to the focus on the more mature market in Victoria. Incumbent retailers in Queensland have initiated a judicial review of the retail pricing reset announced at the end of May, and a new reset process is currently underway. In Victoria, it seems highly likely that price regulation will be removed at the beginning of 2009.

 here has been limited movement in wholesale contract prices in most markets over the past month. However, Professor Garnaut’s report on climate change was released on 5 September. It recommended relatively low emission reduction targets, with commensurately low initial carbon price of $20. Certainty and liquidity in contract markets is expected to improve when the Government’s white paper is released.

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