The ACCC, AGL and the power lines of duty
The NSW government ultimatum on AGL's MacGen bid puts the ACCC in a pickle, and AGL will be up for a fight should it hit a regulatory roadblock.
Mike Baird has created an interesting challenge for the Australian Competition and Consumer Commission and a dilemma for its chairman, Rod Sims, by anointing AGL Energy as its preferred, and only, buyer of Macquarie Generation.
In announcing the outcome of the New South Wales Government's tender for MacGen the NSW Treasurer said AGL's $1.505 billion bid was, when added to the $220 million of cash held by MacGen which would transfer to the government, the only one of the three bids received that exceeded the retention value of MacGen to the state.
Stephen Bartholomeusz
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