ACCC ALLOWS ERM'S MACQUARIE BID

ACCC ALLOWS ERM'S MACQUARIE BID

THE Australian Competition and Consumer Commission will not oppose ERM Power Limited’s (ASX:EPW) proposed acquisition of Macquarie Generation.

The ACCC says the bid for the New South Wales government-owned business and assets, including the Bayswater and Liddell power stations, wouldn’t lower competition in the market.

“The ACCC formed the view that an acquisition of Macquarie Generation by ERM was not likely to substantially reduce the competitiveness of generators or retailers or otherwise raise barriers to entry in the relevant electricity markets,” chairman Rod Sims says (pictured).

“Our review indicated that an ERM acquisition of Macquarie Generation is likely to ensure that competition is maintained and may potentially be enhanced in the relevant markets.

“A key factor in forming this view was the limited generation assets of ERM in Queensland and lack of existing generation assets in New South Wales, Victoria and South Australia,” he says.

EPW is trading at $2.59, a 0.38 per cent change.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Facing the latest impacts of cyber-crime: cyber insurance premiums increase for businesses
Partner Content
As Australian businesses are forced to adapt to a new normal yet again, a different typ...
Aon
Advertisement

Related Stories

Can Queensland cash in on the NRL finals? It’s all about ‘event leveraging’

Can Queensland cash in on the NRL finals? It’s all about ‘event leveraging’

Queensland's love of rugby league, and the fact the state isn...

QLD businesses urged to line up early for 2032 Olympic economic boom

QLD businesses urged to line up early for 2032 Olympic economic boom

Queensland businesses are being encouraged to collaborate early wit...

Hotel Property Investments and Good Drinks Australia pick up pub assets

Hotel Property Investments and Good Drinks Australia pick up pub assets

Two ASX-listed companies have picked up pubs this week, with Hotel ...

NSW risks a second larger COVID peak by Christmas if it eases restrictions too quickly

NSW risks a second larger COVID peak by Christmas if it eases restrictions too quickly

New South Wales plans to relax restrictions when vaccination target...