The managing director of Synergy, the state's main energy retailer, Jim Mitchell has decided to step down at the end of his current contract in April next year.
The state government has authorised electricity retailer Synergy to buy power from the planned $750 million Collgar wind farm in the Wheatbelt, underpinning the development of one of the largest wind farms in the country.
Energy retailer Synergy has become the latest government entity to defend the role of a highly paid executive, with speculation emerging that one of its management team has an undisclosed pay packet that rivals the top bureaucrats in Western Australia.
Shunned Mid West power proponent Aviva Corporation has fired a warning shot at state energy retailer Synergy following the retailer's decision to award lucrative power supply contracts to state-owned generator Verve Energy.
State energy retailer Synergy has snubbed private energy generators by selecting state generator Verve Energy to supply at least 638 MW of supply under its 2008 procurement tender and named it a preferred tender for its 2009 procurement tender.
State energy retailer Synergy is poised to announce the winning bidders of its 2009 power procurement tender to provide additional generation capacity needed from 2012.
THE board of state power retailer Synergy is expected to select the winners of its 2008 and 2009 power procurement process this week, underpinning the next phase of private investment in Western Australia's generation capacity.
Ratings agency Standard & Poor's has suggested that state-owned energy retailer Synergy 's credit rating is likely to come under pressure when the government proceeds with changes to its power purchase contracts.
Standard & Poor's Ratings Services has lowered its corporate credit ratings on electricity retailer Synergy following adoption of a new rating methodology.
THERE is an interesting collection of businesspeople who wield influence in government due to their roles as board members of major corporatised agencies.
A merger between generator Verve Energy and retailer Synergy is still on the cards with Premier Colin Barnett expected to make an announcement in the next couple of months.
Energy retailer Synergy has announced a business restructuring that involves partnering with local IT firm Alphawest, call centre operator Stellar and an unnamed global IT partner to create $75 million in cost savings and benefits over five years.
Energy Minister Peter Collier said he is seeking legal advice on whether he has capacity to stop Synergy relocating jobs overseas, after the state opposition claimed that more than 120 Western Australian jobs will head to India.
The state's Economic Regulation Authority says a re-amalgamation of Verve Energy and Synergy will have adverse implications on the wholesale energy market.
The short-term outlook for state energy retailer Synergy appears robust with Standard & Poor's Ratings Services today assigning an A-1+ corporate credit rating.
The state's food and beverage manufacturing sector believes the fallout from the gas crisis could be felt for years, not months, as it faces the challenge of rebuilding customer relationships and workforces once normal gas supply resumes.
Western Australians can be confident their certified renewable energy purchases through energy retailers such as Synergy and Alinta come from renewable sources, according to an auditor general's report.
Ratings agency Standard & Poor's expects that electricity retailer Synergy will maintain its dominant market share in the medium term, but its performance is likely to deteriorate in the long term.
Energy retailer Synergy has issued its shortlist of preferred renewable energy suppliers for supply contracts totaling 50MW, a list which includes Verve Energy, and Stanwell Corporation and Griffing Energy's joint wind farm project.
State energy corporation Synergy has launched a tender process seeking 450MW of supply through new wholesale electricity supply contracts, and also called for expressions of interest for the supply of energy and capacity outside the tender process.
