EnergyAustralia
| Company type | Privately held company |
|---|---|
| Industry | Electricity generation and retail |
| Predecessor | TRUenergy |
| Founded | 2005 |
| Headquarters | Australia |
Area served | Australia |
| Products | Electricity and natural gas supply |
| Owner | CLP Group (Hong Kong-based) |
| Parent | CLP Group |
EnergyAustralia—formerly known as TRUenergy—is a privately held Australian company engaged in both electricity generation and the retail supply of electricity and gas. It is recognized as one of the "big three" energy retailers within the National Electricity Market. The company's energy production portfolio is dominated by coal-fired power from the Yallourn Power Station in Victoria and the Mount Piper Power Station in New South Wales, complemented by approximately 10% wind-generated power and 32% gas-fired generation. Coal comprises 58% of its overall energy sources. EnergyAustralia stands as Australia's second-largest emitter of greenhouse gases, following AGL Energy.
In 2023, EnergyAustralia experienced financial losses, leading its Hong Kong-based parent company, CLP Group, to explore partnerships for renewable energy ventures, although no new renewable developments are planned at present. The company has pledged to cease operations at Yallourn Power Station by 2028 but plans to continue running Mount Piper until 2040.
EnergyAustralia provides a "carbon neutral" product to more than 400,000 customers without additional charges; nevertheless, this program has faced legal scrutiny over accusations of greenwashing.
History
In 2005, TXU Corp divested its Australian holdings to Singapore Power, which retained control over Victoria’s distribution networks but sold the retail and generation segments to Hong Kong-based CLP Group, the proprietor of the Yallourn Power Station located in Victoria's Latrobe Valley. Operating under the brand TRUenergy, CLP became Australia's fifth-largest energy retailer. In 2011, TRUenergy acquired New South Wales’ electricity retail operations along with the EnergyAustralia brand from the state government. Following this transaction, the government renamed its remaining entity Ausgrid, and in 2012 TRUenergy rebranded itself as EnergyAustralia.
EnergyAustralia expanded its generation assets in 2013 by purchasing the Mount Piper and Wallerawang power stations in New South Wales from Delta Electricity for A$160 million; Wallerawang has since been decommissioned.
In 2015, EnergyAustralia outsourced up to 300 call centre positions from Melbourne to the Philippines.
By 2018, EnergyAustralia joined fifteen other energy companies in launching the Energy Charter, a global initiative aimed at enhancing affordability and reliability throughout the electricity supply chain.
In 2021, EnergyAustralia announced plans to shut down the Yallourn Power Station by mid-2028—four years ahead of schedule—and invest in a 350 MW battery installation in the Latrobe Valley by 2026. At that time, Yallourn supplied around one-fifth of Victoria’s electricity demand.
Operations
EnergyAustralia delivers electricity and natural gas services to more than 1.7 million residential and commercial customers across Australia.
During the 2021–22 period, it produced 16.2 million tonnes of CO₂ emissions, making it the country’s second-largest greenhouse gas emitter.
Since July 2017, EnergyAustralia has maintained a master hedge agreement with Ecogen Energy to acquire output from Ecogen’s gas-fired facilities—the Newport and Jeeralang Power Station—both located in Victoria with a combined capacity of . Additionally, it owns the gas-fired Hallett Power Station in South Australia, which has a capacity of .
Besides serving retail customers, EnergyAustralia caters to industrial and commercial sectors while managing an A$5 billion portfolio of energy assets including Hallett, the now-closed Wallerawang Power Station, and Mount Piper Power Station. It previously held ownership of an underground gas storage facility at the Iona Gas Plant near Port Campbell until divesting it in 2015.
In September 2023, the ACCC commenced legal proceedings against EnergyAustralia over alleged breaches of pricing transparency laws during 2022, which could result in penalties amounting to several million dollars.
Carbon neutral electricity
EnergyAustralia provides an electricity plan labeled as carbon neutral by acquiring carbon offset credits sourced from both Australian and overseas projects, which encompass renewable energy developments and land stewardship programs. This offering holds certification under the Australian government's Climate Active initiative.
It is important to note that the carbon neutral service commences only six months following the initial account activation, with the timer resetting if the customer’s account number changes—this condition is outlined in the terms and conditions but is not prominently highlighted in marketing materials.
In August 2023, EnergyAustralia was subject to a Federal Court legal challenge alleging greenwashing practices connected to this product. The company asserts that it adheres strictly to the requirements of Climate Active certification, despite a 2022 analysis by The Australia Institute labeling this certification as a form of "state sponsored greenwashing."
Industry expert Michael Mazengarb pointed out that EnergyAustralia stands as the largest purchaser of Climate Active offsets and is able to provide this carbon neutral option without additional charges because the cost of offsets remains low.
Energy generation and assets
EnergyAustralia's portfolio of generation assets features significant power plants and renewable energy sites throughout Australia:
- Mount Piper Power Station, New South Wales
- Tallawarra Power Station, New South Wales
- Wallerawang Power Station, New South Wales (no longer operational)
- Pine Dale Mine, New South Wales
- Yallourn Power Station, Victoria
- Cathedral Rocks Wind Farm, South Australia
- Hallett Power Station, South Australia
- Waterloo Wind Farm, South Australia