Pacific Hydro launches retail business in Australia
17 September 2012
Leading renewable energy company, Pacific Hydro, has continued its history of innovation this week by launching retail operations in Australia which will target business customers who are committed to powering a cleaner world.
“Pacific Hydro retail is open for business”, said Mr Lane Crockett, General Manager for Australia at Pacific Hydro.
“We are excited to be able to offer business customers a tailored, flexible service to meet both their energy and GreenPower needs.”
Previously Pacific Hydro has provided business customers with GreenPower credits only and they have had to go elsewhere for their electricity requirements. Pacific Hydro’s new retail licence will enable the company to offer a one stop shop for business customers in Victoria and South Australia, removing the middle man.
“Initially we will target medium and large business retail customers in Victoria and South Australia, ranging from local councils and manufacturing facilities through to corporations who are committed to a minimum purchase of 10% GreenPower.”
The decision to develop a retail arm to the business is a significant step in Pacific Hydro’s journey towards vertical integration which started in 2005, when the company decided to build its first wholesale market (or ‘merchant’) generation asset. Prior to this the company had always sought to commercialise its projects through long-term fixed price Power Purchase Agreements (PPAs), typically contracted with large electricity retailers.
Pacific Hydro now has a portfolio of 207MW of merchant wind farms that will form the basis of its offering to retail customers.
“CleanEnergy by Pacific Hydro is the initial product offering which bundles electricity with 10%-100% accredited GreenPower,” explained Mr Crockett. “However, alternative packages will also be available.”
GreenPower is a government accreditation program that enables customers to voluntarily purchase renewable energy for their electricity supply, going over and above the Government’s Renewable Energy Target (RET).
Each megawatt hour of GreenPower provided will avoid around one tonne of greenhouse gases going into the atmosphere, making an immediate difference to the environment and helping to build investment in new renewable energy generation in Australia.
Pacific Hydro will officially launch its retail business at the 2012 Government Sustainability Conference in Melbourne this week.