Merger to save $8 million

Written By miftah nugraha on Jumat, 22 Februari 2013 | 19.55

THE State Government hopes the merger of Aurora and Transend will stop further electricity price hikes.

Deputy Premier Bryan Green today announced that a new board would be appointed to oversee the merger of the two companies, with the new company expected to be operating by July next year.

Mr Green said it was the next major step in the overhaul of Tasmania's electricity industry, and hoped it would stop further price hikes.

It is expected to save $8 million a year.

Mr Green said the Government would immediately appoint a new chair to oversee the merger and the new board would include two directors from each of the current boards.

The move would see three boards in operation until at least July next year.

Mr Green said he wanted a "seamless transmission".

The merger will result in job losses, but Mr Green could not say how many.

He said the Government was on track to introduce full retail competition in the electricity market from January next year.

The sale of Aurora's customer base would start in the middle of this year.

Read more in the Mercury tomorrow.

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