AusNet
Corporate brand
UnclaimedAustralian energy network business operating electricity transmission, electricity distribution and gas distribution infrastructure in Victoria.
Last updated October 16, 2026
Overview
AusNet is an Australian energy infrastructure and network services business focused on the delivery of electricity and gas in Victoria. The company owns and operates more than A$13 billion of electricity and gas network assets and has historically served more than 1.5 million customers through regulated infrastructure networks. Its principal activities comprise operation of Victoria’s high-voltage and extra-high-voltage electricity transmission network, electricity distribution in eastern Victoria and the eastern and north-eastern suburbs of Melbourne, and gas distribution in parts of the state. The transmission business occupies a strategically important position in the National Electricity Market. AusNet manages and operates Victoria’s high-voltage transmission system and is the state’s sole transmission network service provider. The transmission network carries electricity at 66 kilovolts and above, linking generation, interconnectors and distribution systems. The company’s distribution network operates at lower voltage levels, generally 22 kilovolts and below, and is one of Victoria’s five electricity distribution businesses. Its gas network is one of three gas distribution networks in Victoria. The company emerged from the restructuring and sale of assets formerly associated with TXU’s Australian energy portfolio. Singapore Power acquired the portfolio in 2004 and subsequently sold generation and retailing assets to CLP Group. The remaining regulated network assets were floated in 2005 under the name SP AusNet, with Singapore Power retaining majority ownership. The business later became involved in the proposed acquisition of Alinta assets alongside Babcock & Brown, although the intended transfer of those assets into SP AusNet was not completed. SP AusNet changed its name to AusNet in August 2014 after the conclusion of a management services arrangement with Singapore Power. During its public-company period, the business was listed on both the Australian Securities Exchange and the Singapore Exchange. Singapore Power reduced its ownership in 2013 by selling a 19.9 percent interest in its stake to State Grid Corporation of China. In 2021, Brookfield Asset Management and a group of Australian and Canadian institutional investors made a successful offer for the company. The acquisition was completed in February 2022, ending AusNet’s public listing and making it a privately held Brookfield-controlled infrastructure business. In addition to regulated network operations, AusNet has developed commercial and technology-oriented activities through Mondo. Mondo provides services intended to support community energy hubs, solar mini-grids and other distributed-energy applications. These activities reflect the broader transition from centralized electricity infrastructure toward systems combining distributed generation, storage, local networks and digital management. AusNet’s business is shaped by regulation, reliability requirements, asset investment and extreme-weather risk. Transmission and distribution revenues are subject to regulatory processes, including the Australian Energy Regulator’s determinations of maximum allowable revenue over defined regulatory periods. The company has also faced substantial legal and reputational consequences from the February 2009 Black Saturday bushfires, including class-action settlements connected with the Kilmore East fire. Its current identity therefore combines the role of a regulated Victorian network operator with that of a privately owned energy-infrastructure platform investing in grid and distributed-energy services.
History
AusNet’s origins lie in the restructuring of TXU’s Australian energy portfolio during the 2000s. In 2004, Singapore Power acquired the portfolio from TXU for approximately US$3.7 billion. The portfolio included a mixture of generation, retailing and network assets. In 2005, Singapore Power sold the generation and retailing businesses to Hong Kong-based CLP Group for approximately $2.2 billion, while retaining the network-oriented assets that would form the basis of the later AusNet business. The remaining assets were publicly floated in 2005 as SP AusNet. Singapore Power retained a 51 percent interest and sold approximately 49 percent to public investors for about $1 billion. The company operated as a listed energy-network business with securities traded in Australia and Singapore. Its core assets were regulated electricity transmission, electricity distribution and gas distribution networks in Victoria. In 2007, SP AusNet joined with Babcock & Brown in the acquisition of Alinta, a large Australian energy infrastructure and services group, in a transaction valued at approximately $7.4 billion. The parties attempted to place the acquired Alinta assets into SP AusNet, but the proposed transfer was not completed. The episode occurred during the onset of the global financial crisis and the Great Recession, which affected infrastructure financing and asset-sale plans. Ownership changed again in May 2013 when Singapore Power sold 19.9 percent of its 51 percent holding to State Grid Corporation of China for A$824 million. The transaction implied a company valuation of approximately A$4.1 billion. In March 2014, a management services arrangement between Singapore Power and SP AusNet ended. The company subsequently changed its name from SP AusNet to AusNet in August 2014, using a shorter identity that continued to cover its Victorian network operations. AusNet’s corporate history was also marked by legal proceedings concerning the February 2009 Black Saturday bushfires in Victoria. The 2009 Victorian Bushfires Royal Commission concluded that the Kilmore East fire began after a failed conductor between poles 38 and 39 contacted a cable stay, producing arcing that ignited nearby vegetation. Subsequent class actions resulted in major settlements. In July 2014, AusNet announced a A$260 million settlement associated with one proceeding. In December 2014, the Supreme Court of Victoria approved a broader A$494 million settlement in another proceeding, of which A$378.6 million was attributed to AusNet. These matters became a defining legal event in the company’s history and illustrated the liabilities faced by electricity network operators in areas exposed to bushfire risk. Operationally, AusNet has remained centered on three Victorian networks. It manages the state’s high-voltage and extra-high-voltage electricity transmission system and is Victoria’s sole transmission network service provider in the National Electricity Market. It also operates an electricity distribution network in eastern Victoria and in the eastern and north-eastern suburbs of Melbourne, and a gas distribution network serving parts of Victoria. Network revenue is subject to regulatory review, including Australian Energy Regulator processes that establish maximum allowable revenue for transmission providers over regulatory periods. AusNet also operates Mondo, a commercial business focused on community energy hubs, solar mini-grids and related distributed-energy solutions. Mondo broadens the company’s activities beyond conventional regulated networks and reflects the growth of local generation, storage and digital energy management. In 2021, Brookfield Asset Management and a consortium of Australian and Canadian pension investors made a successful offer for AusNet. The transaction was completed in February 2022. AusNet consequently ceased to be publicly listed and became a Brookfield-controlled private energy-infrastructure business. Its present identity combines long-established Victorian electricity and gas network operations with investment in newer distributed-energy services.
- 2022
AusNet becomes privately owned
[1]Brookfield Asset Management and institutional co-investors completed a takeover that removed AusNet from public markets. A Brookfield-led consortium completed its acquisition of AusNet, ending the company's public-market listings.
- 2014
SP AusNet adopts the AusNet name
[1]The company rebranded as AusNet after the conclusion of its management services agreement with Singapore Power.
- 2013
State Grid acquires part of Singapore Power’s stake
[1]State Grid Corporation of China purchased a 19.9 percent interest in Singapore Power's holding for A$824 million.
- 2013
State Grid Corporation of China acquires a strategic stake
[1]Singapore Power sold 19.9 percent of its interest to State Grid Corporation of China for approximately A$824 million.
- 2007
Alinta acquisition partnership
[1]SP AusNet and Babcock & Brown participated in the approximately $7.4 billion acquisition of Alinta. A proposed transfer of the Alinta assets into SP AusNet was not completed.
- 2007
Alinta transaction and unsuccessful asset-transfer proposal
[1]SP AusNet joined with Babcock & Brown in connection with the A$7.4 billion Alinta acquisition, but the proposed transfer of Alinta assets into SP AusNet was not completed.
- 2005
Generation and retail assets sold to CLP Group
[1]Singapore Power sold the portfolio's generation and retailing operations to Hong Kong-based CLP Group, leaving the network assets as the core of the future listed business.
- 2005
SP AusNet is publicly floated
[1]The network business was floated as SP AusNet, with Singapore Power retaining 51 percent and public investors acquiring approximately 49 percent.
- 2004
Singapore Power acquires TXU’s Australian energy portfolio
[1]Singapore Power acquired TXU's Australian energy assets for approximately US$3.7 billion, establishing the asset base from which SP AusNet developed.
Products and positioning
A regulated Australian energy infrastructure operator supporting the transmission and distribution of electricity and gas, with additional capabilities in distributed-energy and community energy systems.
Energy infrastructure
Electricity transmission network
AusNet manages and operates Victoria’s high-voltage and extra-high-voltage electricity transmission network. The system operates at 66 kilovolts and above and connects generation and major electricity infrastructure with distribution networks. AusNet is Victoria’s sole transmission network service provider in the National Electricity Market, making transmission reliability, asset maintenance and regulated investment central to the business. AusNet manages Victoria's high-voltage and extra-high-voltage electricity transmission network, including assets operating at 66 kilovolts and above. It is the state's sole transmission network service provider within the National Electricity Market. The business connects generation and major load centers and is subject to Australian Energy Regulator revenue and investment processes.
Energy infrastructure
Electricity distribution network
The electricity distribution business delivers power through lower-voltage networks, generally at 22 kilovolts and below. It serves eastern Victoria and the eastern and north-eastern suburbs of Melbourne and is one of Victoria’s five electricity distributors. The service includes operation and maintenance of poles, wires, substations and related network equipment. The electricity distribution business operates lower-voltage networks, generally at 22 kilovolts and below, across eastern Victoria and eastern and north-eastern suburbs of Melbourne. It is one of Victoria's five electricity distributors and provides the infrastructure used to deliver electricity from the transmission system to homes, businesses and other customers.
Energy infrastructure
Gas distribution network
AusNet operates one of Victoria’s three gas distribution networks. The business transports gas through regulated distribution infrastructure to connected customers and is part of the company’s longstanding Victorian energy-network portfolio. AusNet operates one of Victoria's three gas distribution networks. The business owns and manages network infrastructure used to transport reticulated gas to connected customers and operates within the state's regulated energy-delivery framework.
Distributed energy services
Mondo
Mondo is AusNet’s commercial energy-services business. It provides solutions associated with community energy hubs, solar mini-grids and other distributed-energy applications. The business extends AusNet’s capabilities into localized generation and energy-management models that complement conventional transmission and distribution infrastructure. Mondo is AusNet's commercial energy-solutions business. It provides services and solutions intended to support community energy hubs, solar mini-grids and other distributed-energy models, complementing the company's traditional regulated network operations.
Controversies
2009
Kilmore East and Black Saturday bushfire liability
The Victorian Bushfires Royal Commission found that the Kilmore East fire began after a failed conductor contacted a cable stay and created arcing that ignited vegetation. Related class actions led to major settlements involving AusNet, other utility providers and the Victorian Government. The Victorian Bushfires Royal Commission found that the Kilmore East fire began after a conductor failed and contacted a cable stay, causing arcing that ignited nearby vegetation. The finding led to class-action proceedings involving AusNet and other parties, followed by major settlements in 2014.
Brand decisions
2022
Brookfield-led privatizationM&ABackground
Brookfield Asset Management and institutional investors made a successful takeover offer for the publicly listed company.
Action taken
The acquisition was completed and AusNet was removed from the ASX and SGX.
Aftermath
AusNet became a privately owned Brookfield-controlled energy-infrastructure business.
2022
Take-private acquisition by Brookfield-led consortiumM&ABackground
Brookfield Asset Management made a successful 2021 proposal with Australian and Canadian pension funds participating as co-investors.
Action taken
The consortium completed the acquisition in February 2022 and removed AusNet from public ownership.
Aftermath
AusNet ceased to be listed on the Australian and Singapore exchanges and continued as a privately owned energy infrastructure business.
2014
Rebrand from SP AusNet to AusNetStrategyBackground
The company changed its name after the end of its management services agreement with Singapore Power.
Action taken
SP AusNet adopted the AusNet name in August 2014.
Aftermath
The shorter brand continued to represent the Victorian electricity and gas network business. The rebrand established AusNet as the continuing identity for the Victorian energy network business.
Recent events
- 2022
Brookfield-led acquisition takes AusNet private[1]
M&A
A successful takeover offer made in 2021 by Brookfield Asset Management with institutional co-investors was completed, ending AusNet’s listings and placing the company under private ownership.
- 2022
Brookfield-led consortium completes AusNet take-private transaction[1]
M&A
AusNet became privately held after the successful takeover bid made by Brookfield Asset Management with Australian and Canadian pension-fund co-investors. The transaction ended the company's ASX and SGX listing history.
- 2014
SP AusNet rebranded as AusNet[1]
Other
SP AusNet adopted the AusNet name after the end of its management services agreement with Singapore Power.
Sources3 sources
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