ACCC clears AGL acquisition of Loy Yang A power station
The Australian Competition and Consumer Commission (ACCC) today announced that it would not oppose the proposed acquisition by AGL Energy Ltd (AGL) of Great Energy Alliance Corporation Pty Limited (GEAC), which owns Loy Yang Power (LYP) (owner of the Loy Yang A power station).
The ACCC considered whether the aggregation of AGL and LYP’s generation assets would be likely to result in a substantial lessening of competition in markets for the wholesale supply of electricity. The ACCC concluded that the strong competition provided by all the remaining generators, as well as some potential for investment in new generation, would be likely to preserve competitive tension in the relevant markets.
Frontier (Australia) advised AGL’s solicitors, Ashurst. Our role included undertaking and submitting to the ACCC wholesale market modelling of the Australian National Electricity Market using our proprietary models, WHIRLYGIG and SPARK.
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