Australian regulator blocks power plant purchase

The Australian Competition & Consumer Commission has blocked a A$1.51bn bid by AGL Energy to purchase two coal-fired power plants from state-owned Macquarie Generation.

The country’s antitrust regulator says it is concerned the move would reduce competition but AGL may challenge the decision in federal court, according to analysts.
AGL Energy
Buying two coal-fired power plants, which account for more than a quarter of the electricity capacity in New South Wales, would have increased AGL’s share of the national market to 21 per cent from 12 per cent. The sales process is now on hold, Treasurer Mike Baird told reporters.

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