Energy lease due next year

The leasing of Endeavour Energy’s “poles and wires” is not likely to happen before the middle of next year.
Nanjing Night Net

NSW Treasurer Gladys Berejiklian announced the leasing of Transgrid last month. The leasing process for Endeavour Energy is expected to start in the middle of next year.

This means the network, which services the Illawarra region, will be the last of the three networks to enter the leasing process.

The process is duebe completed by December 2016.

The news comes after the government late last month announced the successful tender of Transgrid, netting gross proceeds of $10.2 billion.

“Thisexcellent outcome is a sign of the market’s confidence in the NSW economy as Australia’s number one state to do business,” Treasurer Gladys Berejiklian said.

The Transgrid lessee is aconsortium that includes a Canadian pension fundand investment groups based in Australia andAbu Dhabi.

The government’s long-term leasing of Transgrid, Ausgrid and Endeavour networks is designed to recoup at least $20 billion.

This money will be spent on infrastructure projects, including the Albion Park Rail Bypass.

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