UE has come a long way from when the SEC was privatised in 1994
and the Victorian Government established Victoria’s current
electricity industry structure and a new regulatory framework.
United Energy Limited was formed originally as a distributer and
retailer, but sold its last interest in the electricity retail
business in 2002. In 2003, UE was restructured and delisted from
the Australian Stock Exchange. United Energy Distribution Holdings
Pty Ltd was established as a new holding company, with DUET holding
66 per cent equity and Alinta Ltd holding the remaining share. The
majority of UE’s operations were outsourced to Alinta Asset
Management, which in turn was purchased by Singapore Power in
DUET Group still owns 66 per cent of UE, with Singapore Power
International holding the remaining shares.
MG has experienced significant change since its formation in
1997, when the Victorian Government restructured the state’s gas
industry from a government-owned monopoly, Gascor (formerly Gas and
Fuel Corporation), into three distribution businesses and three
retail businesses. The new businesses were fully corporatised in
1997, and then sold to the private sector early in 1999.
MG is now 100 per cent owned by DUET.
For further information on DUET and to view public announcements
in relation to UE and MG financials and reporting, please visit: www.duet.net.au
To access the Investor Portal for UE and MG, please click here