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    TLS   AU000000TLS2

TELSTRA CORPORATION LIMITED

(TLS)
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Delayed Quote. Delayed Australian Stock Exchange - 01/28 12:10:10 am
3.96 AUD   +2.06%
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REFILE-Italy's Enel enters Australia's crowded retail power market

12/06/2021 | 01:43am EST

MELBOURNE, Dec 6 (Reuters) - Italy's Enel Group on Monday said it would start selling power to Australian businesses, vying against oil giant Royal Dutch Shell and Australia's dominant electricity retailers.

Enel said it won a retail energy license from the Australian Energy Regulator to enter the National Energy Market, where it will be competing with Shell, which acquired the country's biggest power retailer to businesses two years ago.

The country's other major power retailers include AGL Energy , Origin Energy, while top telecoms firm Telstra Corp is also making inroads.

Enel plans to use Enel Green Power's Australian solar farm output combined with Enel X's technology platforms, including battery energy storage, a virtual power plant and electric vehicle charging, to offer energy to commercial and industrial customers to help them meet their green goals.

"As a vertically integrated retailer with wholly owned assets, and a global leader in demand response services ..., Enel's green retail offering will be unique in the marketplace," Enel X Head of Asia Pacific Jeff Renaud said in a statement.

Enel recently considered acquiring online power retailer Powershop Australia, which sells to households, but Enel Green Power's Australian manager Werther Esposito said the company decided not to submit a final bid.

Shell, working with an infrastructure investor, won the bid for Powershop Australia last month.

Enel said it eventually plans to expand to selling power to households as it grows its renewable generation assets in Australia, where Enel Green Power currently has three solar farms with a total 310 megawatts of capacity. (Reporting by Sonali Paul; Editing by Lincoln Feast.)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AGL ENERGY LIMITED 0.86% 7.06 Delayed Quote.14.01%
ENEL S.P.A. -1.46% 6.752 Delayed Quote.-2.75%
ORIGIN ENERGY LIMITED 2.41% 5.53 Delayed Quote.3.05%
TELSTRA CORPORATION LIMITED 2.06% 3.96 Delayed Quote.-7.18%
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Analyst Recommendations on TELSTRA CORPORATION LIMITED
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Financials
Sales 2022 22 339 M 15 622 M 15 622 M
Net income 2022 1 725 M 1 206 M 1 206 M
Net Debt 2022 11 610 M 8 119 M 8 119 M
P/E ratio 2022 27,0x
Yield 2022 4,04%
Capitalization 46 465 M 32 497 M 32 493 M
EV / Sales 2022 2,60x
EV / Sales 2023 2,52x
Nbr of Employees 27 015
Free-Float 98,2%
Chart TELSTRA CORPORATION LIMITED
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Telstra Corporation Limited Technical Analysis Chart | TLS | AU000000TLS2 | MarketScreener
Technical analysis trends TELSTRA CORPORATION LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 3,96 AUD
Average target price 4,34 AUD
Spread / Average Target 9,58%
EPS Revisions
Managers and Directors
Andrew Richard Penn Chief Executive Officer, MD & Executive Director
Vicki Maree Brady CFO, Group Executive-Strategy & Finance
John Patrick Mullen Chairman
Nikos Katinakis Group Executive-Networks & Information Technology
Kim Krogh Andersen Group Executive-Product & Technology
Sector and Competitors