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Australia: AGL Energy challenges ACCC over power plant buys

By  |  March 24, 2014

AGL Energy is reportedly fighting a recent decision that blocked the company’s acquisition of various state-owned power plants in New South Wales, taking the case to the Australian Competition Tribunal.

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    New South Wales halted the takeover following the Australian Competition and Consumer Commission’s ruling that blocked AGL’s purchase of two coal-fired plants over concerns the deal would harm competition. The ACCC found the deal would lead to AGL owning more than one-quarter of the electricity capacity in the state, according to reports.

    In a statement, the energy firm said the ACCC’s ruling “can’t be left unchallenged.” The Tribunal will now have three months to review the company’s request to review the ACCC ruling.

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