Ausnet Services (AST)

Ausnet Services (AST)

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Ausnet Services (AST) Profile

Ausnet Services (AST.xasx) is an energy delivery services company headquartered in Victoria, Australia. Ausnet owns and operates more than $11B (AUD) of electricity and gas network assets. The company owns and operates 3 regulated networks, including electricity distribution, statewide electricity transmission network and gas distribution, and employs 1,500 people. Ausnet serves over 1.5M Victorians and is owned 31.1% by Singapore Power, 19.9% by State Grid Corp of China and 49% is publicly owned. The State Grid company is China's state-owned electric utility monopoly and the largest utility company globally. The Ausnet Services stock (AST) is listed on the Australian Securities Exchange (ASX) and had a market capitalisation of $9.65B (AUD) as of January 2022. Ausnet Services and Smart Wires join together to install technology by deploying SmartValve on the Jindera-Wodonga 330 kV line. The interregional export capability from New South Wales to Victoria will be increased by around 15MW, reducing the risk of supply shortfalls in Victoria following the recent retirement of fossil fuel-based generation. Additionally, Ausnet Services announced a new partnership with Victoria’s largest food relief charity, Foodbank Victoria, in late 2021.

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