AGL sells dig­i­tal me­ter­ing as­set

The Australian Energy Review - - NEWS - EL­IZ­A­BETH FABRI

AUS­TRALIA’S largest power gen­er­a­tor AGL has agreed to off­load its dig­i­tal me­ter­ing sub­sidiary, Ac­tive Stream, to NSW elec­tric­ity dis­trib­u­tor Aus­grid for a post-tax profit of $25 mil­lion.

Ac­tive Stream was es­tab­lished in 2015 to in­stall dig­i­tal me­ters ahead of the Power of Choice reg­u­la­tory re­forms that come into ef­fect on 1 De­cem­ber 2017.

In a state­ment AGL said its de­ci­sion to di­vest the as­set re­flects “the evo­lu­tion of AGL’S strat­egy to be­come tech­nol­ogy ag­nos­tic in the de­vel­op­ment of in­no­va­tive, data-en­abled en­ergy prod­ucts and ser­vices that are ac­ces­si­ble to all cus­tomers, re­gard­less of me­ter provider.”

Aus­grid chief ex­ec­u­tive Richard Gross said the pur­chase rep­re­sented an “ex­cit­ing mile­stone” in pur­suit of Aus­grid’s strat­egy in the Power of Choice me­ter­ing mar­ket.

Post the close of the sale, Ac­tive Stream will con­tinue to pro­vide dig­i­tal me­ter­ing ser­vices to AGL on a non-ex­clu­sive ba­sis.

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