Ann: Victorian Bushfire Crisis Update , page-2

PERTH, Feb 16 (Reuters) - Shares of Australian energy firm SP
AusNet dropped over 13 percent on Monday after it said
it was making inquiries into a media report that it faces a
class-action lawsuit relating to the country's deadliest
bushfires.

SP AusNet , which is controlled by Singapore Power,
said in a release to the stock exchange that it has insurance
policies in place consistent with industry standards, and will
continue to update the market as information becomes available.

Shares in SP AusNet were down 6.9 percent at A$1.01 by 0003
GMT, after having earlier fallen 13.4 percent to a one-month low
of A$0.94.

Melbourne's Sunday Age newspaper said on Sunday the action
was launched in the Supreme Court of the eastern state of
Victoria on behalf of thousands of farmers, business owners,
tourism operators and residents who alleged that the collapse of
a power line owned by SP AusNet may have sparked Australia's
deadliest bushfires.

SP AusNet supplies power to areas in Victoria state,
where fires killed at least 181 people just over a week ago,
destroyed more than 1,800 homes and left 7,000 people homeless.