A PYMNTS Company

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.

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.

Full Content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.