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Pulse cheque?

A LARGE eastern Australian energy retailer with WA links could be put up for sale.

Pulse Energy has 1.1 million electricity and gas customers in Victoria and an annual revenue of $1 billion.

However, shareholders Shell Australia, United Energy, Energy Partnership and Woodside Energy have asked investment bank Carnegie, Wylie & Company to perform a strategic review and produce an options paper that could include the sale of Pulse.

A spokesperson for 25 per cent Pulse stakeholder United Energy said a possible sale would fit with the view of United’s major shareholder, North American energy company Aquila Inc.

The spokesperson said United was looking to follow suit and the possible sale of Pulse Energy would facilitate this.

United, through its wholly owned subsidiary National Power Services Pty Ltd, is an equal partner with AlintaGas in National Power Services (Western Australia) Pty Ltd, formed last year from the AlintaGas construction and maintenance division to supply services to energy and telecommunications companies.

A United and Aquila company, WA Gas Holdings Pty Ltd, tops the AlintaGas shareholder list with a 45 per cent stake, half of this held by United.

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