02/07/2013 - 16:13

Smith to chair re-merged Verve and Synergy

02/07/2013 - 16:13

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The state government has set January 1 next year as the date for energy utilities Verve and Synergy to commence trading as one entity, after announcing that Michael Smith would be chair of a new board to oversee the merger.

The six-member board has three directors from energy retailer Synergy, one from electricity generator Verve and two new faces.

Mr Smith is currently chairman of Synergy, as well as chairman of iiNet and national chairman of the Australian Institute of Company Directors.

Current Synergy deputy chair Eric Hooper will serve in that role on the new board, and Synergy director Margaret Seares will also continue.

Current Verve director and Clough chairman Keith Spence will join the board, along with former Western Power executive Mark Chatfield.

The final director is Michael Goddard, who is chief executive of the Clough family's investment company McRae Investments.

Energy Minister Mike Nahan said "this board brings together a great balance of experience, knowledge of the energy sector and enthusiasm for the challenges that lie ahead".

He claimed the merger will improve efficiencies in electricity production in Western Australia and help create a market that delivers cost-effective, reliable and safe energy.

The merger plan has been opposed by all major business groups and the Economic Regulation Authority.

 

 

 

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