Synergy (electricity corporation)
| Company type | Government-owned corporation |
|---|---|
| Industry | Energy |
| Predecessor | Western Power Corporation |
| Founded | 2006 |
| Headquarters | Australia |
Area served | Western Australia (South West Interconnected System) |
| Products | Electricity generation, retail electricity sales, wholesale energy trading, gas services |
| Owner | Government of Western Australia |
Synergy is a Government-owned corporation under the ownership of the Government of Western Australia. It stands as the largest energy generator and retailer in Western Australia, catering to more than one million industrial, commercial, and residential clients, with reported annual revenues surpassing $3.2 billion during the 2014/15 fiscal year.
History
Formed in 2006 following the division of Western Power Corporation, Synergy was created alongside Verve Energy, Horizon Power, and Western Power. On 1 January 2014, Synergy incorporated the state-owned generation entity Verve Energy through a merger, retaining the Synergy name thereafter.
Area served (retail electricity)
Synergy provides electricity to customers connected to the South West Interconnected System (SWIS), spanning from Kalbarri in the northern area down to Albany in the south, extending eastward to Kalgoorlie.
Legal basis
Established pursuant to the Electricity Corporations Act 2005, Synergy's formal legal designation is "Electricity Generation and Retail Corporation." Its trading names are sanctioned by the Minister. Although it functions as a state-owned corporation, Synergy is not classified within the WA public service under the Public Sector Management Act 1994 and does not benefit from the immunities or privileges granted to the State of Western Australia.
Business overview
Synergy’s primary activities encompass electricity generation, retail electricity sales, and wholesale energy trading. It supplies electricity to both residential and commercial customers and provides gas services to large-scale industrial clients.
Electricity generation
The company produces electricity from various sources including coal-fired power stations located at Muja and Collie, gas turbine facilities at Cockburn, Pinjar, Kalgoorlie, and Mungarra, as well as wind and solar farms situated in Western Australia’s mid-west and great southern areas.
Electricity wholesale business
Synergy administers wholesale electricity trading within Western Australia. This includes managing dispatch of its generation assets alongside contracts with independent power producers and fuel supply agreements. The wholesale division purchases electricity and associated products for resale to retail customers and other wholesale market participants under ring-fenced structures that comply with Australian competition regulations.
Electricity retail sales
The company is responsible for setting prices, conducting sales, and marketing electricity to end consumers connected to the South West Interconnected System (SWIS), which also includes accredited renewable energy products.
Gas trading
Synergy participates in the wholesale market for natural gas within Western Australia.
Gas retail sales
Additionally, Synergy manages pricing strategies, sales efforts, and marketing activities related to gas supply for end-user customers throughout Western Australia.
Monopoly and other retailers
Under legislation, Synergy maintains an exclusive right to sell electricity to residential customers and those with low consumption levels. Customers outside the SWIS receive energy services from Horizon Power.