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UK: ACCC raises concerns over Vic gas sale

 |  October 4, 2015

Energy infrastructure owner APA Group is confident it can ease concerns raised by the competition watchdog over its bid for EnergyAustralia’s Iona gas storage plant in Victoria.

The Australian Competition and Consumer Commission says the proposed deal could reduce competition in the Victorian gas market and allow APA to raise its east coast supply chain charges.

“We are confident that the issues raised by the ACCC are able to be dealt with fully, and we intend to engage with the ACCC to prove our position,” an APA spokesman told AAP.

APA runs Australia’s largest gas infrastructure business and is considered a leading contender in an ongoing auction process by EnergyAustralia to sell the plant for up to $1 billion.

The bidding process, run by investment bank Lazard, was previously expected to be completed in September, but this is likely to be pushed back several months as the ACCC gathers more information.

The consumer watchdog has invited further market submissions by October 16.

Full content: The Australian

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