Concern over Chinese control of Australia’s gas and power
Electricity and gas transmission and distribution assets that Chinese and Hong Kong companies would have a stake in if APA takeover was to go ahead. Picture: ASPISource:Supplied
canada goose coats THERE are serious concerns about the $13 billion takeover of an Australian energy company canada goose clearance sale with experts warning it is «entirely the wrong move» with implications for national security and gas prices. canada goose coats
canada goose coats on sale Australians are just starting to realise how much of the country electricity and gas assets are owned canada goose uk outlet by Chinese linked companies and the huge dominance they now have. canada goose coats on sale
canada goose store The latest move from Hong Kong based company Cheung Kong Infrastructure (CKI) to take over Australian canadian goose jacket owned company APA will give it control over 60 per cent of Australia gas pipelines. canada goose store
Canada Goose Parka But the picture becomes even more concerning if you look at all the other assets that are essentially controlled by the Chinese Government. Canada Goose Parka
This is what going on.
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APA is the company at the centre of Canada Goose sale the deal and it easy to understand why.
Canada Goose Jackets The company owns or manages $20 billion worth of energy assets. Canada Goose Jackets
It has a 15,000km network of pipelines that deliver half of Australia natural Canada Goose Parka gas usage. It supplies gas to 1.3 million canada goose coats Australian homes canada goose clearance and businesses, as well as having interests in gas fired power stations and wind farms. fact if you bought shares in APA when it first listed on the stock exchange in 2000, cheap Canada Goose your investment would now be worth 18 times more than what it was.
But this impressive profit actually canada goose outlet points to one of the reasons why people are so worried about the sale.
buy canada goose jacket When the Australian Competition and Consumer Commission (ACCC) looked into the gas canada goose store market in 2016 it found evidence of monopoly pricing among the pipeline operators that transport gas along the east coast of Australia. buy canada goose jacket
canada goose clearance This is because the pipelines are owned by a small group of canada goose coats on sale companies that can essentially charge what uk canada goose outlet they like. canada goose clearance
canada goose deals CKI already owns a lot of gas pipelines, powerlines and electricity generators around Australia. canada goose deals
Canada Goose sale So if you combine the two companies, CKI would suddenly control 68 per cent of the gas transmission and distribution pipelines in Victoria, 86 per cent in South Australia Canada Goose Coats On Sale and buy canada goose jacket 72 per cent in Queensland. Canada Goose sale
cheap Canada Goose But it gets even more interesting when you add the assets controlled by other Chinese companies, particularly another company called State Grid, which is a Chinese Government owned company. cheap Canada Goose
Canada Goose Outlet Electricity and gas transmission and distribution assets that Chinese and Hong Kong companies would have a stake in if APA takeover was to go ahead. Picture: ASPISource:Supplied Canada Goose Outlet
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canada goose clearance sale When you cheap canada goose uk combine the assets Canada Goose Outlet of all http://www.canadagoosesalesus.com the companies you start to understand why some experts are so worried. canada goose clearance sale
Australians canada goose factory sale rely on pipelines and powerlines to transport electricity and gas around the buy canada goose jacket cheap country and into Canada Goose Jackets their homes. Transmission networks move the energy around the Canada Goose online country and distribution networks are the smaller lines that deliver it into their homes.
Canada Goose online If the APA takeover went ahead, 100 per cent of electricity transmission and distribution in three states and territories would be partly controlled by Chinese and Hong Kong interests, according to national security expert and Australian Strategic Policy Institute (ASPI) executive director Peter Jennings. Canada Goose online
Chinese and Hong Kong companies would essentially have a stake in all the electricity canada goose uk shop powerlines that deliver energy to homes and businesses in Victoria, canada goose black friday sale South Australia and ACT.
canada goose For example, the electricity network in the ACT is canada goose uk black friday run by Evoenergy, which is 50 per cent owned by the ACT Government. The other half is owned by Jemena, of which the Chinese controlled State Grid owns 60 per cent. canada goose
When it comes to uk canada goose gas, Chinese and Hong Kong companies have a stake in 99 per cent of the transmission and distribution network in Victoria, 100 per cent in NSW and the ACT, as well as 86 per cent in South Australia, 78 per cent in Queensland, Canada Goose Online 74 per cent in NT and 62 per cent in WA.
is a real vulnerability to having a vast bulk of our gas and electricity assets owned by two foreign entities State Grid and CKI, Mr Jennings said.
that into account, and looking into the risks of cyber hacking, the Government would be well advised not to let this particular takeover go ahead. MAY ALSO KEEP canada goose GAS PRICES HIGH
While Australia national security could be at stake, Bruce Robertson also believes the takeover will be bad for gas prices.