SA: Bid deadline passes for SA power assets

AAP General News (Australia)
12-06-1999
SA: Bid deadline passes for SA power assets

Final bids for South Australia's biggest electricity business have been lodged but
the government warns it could be weeks before the new owner is known.

Three major consortiums have put in bids for the electricity retail and distribution business.

They include US utility Edison Mission, a consortium led by the US's UtiliCorp United
and a group comprising Hongkong Electric Holdings and Cheung Kong Infrastructure Holdings.

The successful bidder will hold a 97-year lease on the asset, which could fetch up
to $3.7 billion.

The bids will open tonight.

Bids will be considered by a six-member evaluation committee.

Treasurer ROB LUCAS says the process could take more than a few days, but he hopes
the preferred bidder will be named before the end of the year.

Other businesses - including Optima Energy, Flinders Power, ElectraNet and Synergen
- will be leased next year.

AAP RTV sn/smf/pjg

KEYWORD: POWER SA (ADELAIDE)

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