International Power media release
Friday 25th May 2007
(London – 25 May 2007) International Power plc today announces that it has exercised its option to acquire the remaining 50% of the EnergyAustralia and International Power (Australia) Retail Energy Partnership. International Power will pay A$142 million (£59.2 million) for the remaining 50% share of the partnership.
The business sells electricity and gas to retail customers in Victoria and South Australia. Since the retail partnership was formed in July 2005, the number of power and gas accounts has increased from 175,000 to more than 400,000.
Tony Concannon, Executive Director Australia said "Performance of the retail business has met our original objectives, and we are pleased to increase our investment in this important route to market for our generation portfolio in Australia.” The acquisition will be funded from existing International Power liquid resources, and completion is expected in August 2007.
For further information please contact:
International Power
Investor and Media Contact:
James Flanagan
Telephone: +44 (0)20 7320 8869
About International Power
International Power plc is a leading independent electricity generating company with 18,375 MW (net) in operation and 312 MW (net) under construction. International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, France, Germany, the Czech Republic, Italy, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the UAE, Indonesia, Pakistan, Puerto Rico and Thailand. International Power is listed on the London Stock Exchange and the New York Stock Exchange (as ADR’s) with ticker symbol IPR. Company website: www.ipplc.com.
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