erm warms up partners for nsw bid

Very interesting article in fin review this morning titled, “ERM warms up partners for NSW bid”.

Essentially it states that ERM would take a ‘direct role’ in the NSW electricity privatisation auction this time around and are seeking a partner to help them with their bid, this is supported by quotes from the CEO Philip St Baker.

It’s very clear that ERM see a huge amount of potential in NSW and have been laying the foundations for a successful business for some time, IMO (and many others opinions on this forum) the Clarence Moreton Basin and by extension MEL is a key plank in those foundations. A successful JV partnership with MEL, which gives them certainty of supply and control over long term pricing, will underpin their ambitions in the NSW electricity market.

This is exciting. And for all those who are certain that MEL is a “sitting duck”, there is no way ERM would allow MEL to be lost to them and given their endeavour to partake in the upcoming auctions it would be nigh on impossible for them to launch a bid on MEL themselves.

With auctions to happen next year, you would expect ERM to create certainty around supply ASAP.