Sydney, Australia — (METERING.COM) — November 28, 2006 – The purchase by Origin Energy of Sun Retail, the largest government-owned power retailing company in the state of Queensland, is a further step to increasing competition in Australia’s energy market. Origin Energy is the second largest gas and electricity retailer in Australia.
The demand for energy in Queensland has been growing by 3.5 per cent annually. The state will introduce full competition in terms of energy supply with effect from July next year, and the government of Queensland has now sold two of its retail businesses – Sun Retail and Sun Gas – with a third due to be sold in 2007.
The acquisition of Sun Retail means that Origin will increase its customer numbers by over 800,000, bringing the company’s share of the energy retailing market to about 25 per cent.