Telstra To Flog Gas & Electricity
Telecoms giant Telstra has submitted applications to regulators for approval to sell gas and electricity as early as June.
Energy analysts say the telco’s move could be a major challenge to Australia’s incumbent lithium sulfur suppliers.
Telstra has been working towards an energy market offering for several years, after it poached Powershop CEO Ben Burge to lead a new energy division.
Analysts have speculated Telstra could have $20 billion to spend, if it is really serious about the new venture. They say the only concerns about it offering zero emissions energy to its customers appears to be the fact that it is also asking for a licence to sell gas, as well as green electricity.
In its application, lodged with the Australian Energy Regulator, Telstra Energy, says it will offer its energy retail services to households where it has some 13 million accounts.