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Select Solutions for Sale

This week AusNet Services announced the sale of its metering and asset intelligence business, Select Solutions.

AusNet Services is the largest diversified energy network business in Victoria, owning and operating approximately $11 billion of assets.  The company owns and operates three regulated networks – the whole of Victoria electricity transmission network, and electricity and gas distribution. The company also has a Commercial Energy Services division focused on unregulated opportunities, which Select Solutions is a part of.

Select Solutions is believed to be worth approximately $100 million and has 1000 employees.

It is anticipated industrial companies will be interested in the purchase.

AusNet Services was listed on the Australian Securities Exchange in December 2005.  Its two largest shareholders are Singapore Power with 31 percent and State Grid Corporation of China with 19.9 percent.