Petrol giant Ampol is set to expand into the Australian energy market after applying for licenses to sell electricity and gas in Australia.
The move comes after oil company Shell and telecoms leader Telstra last year announced they would be expanding into the sector.
The document, submitted to the Australian Energy Regulator (AER), revealed Ampol is eager to utilise its existing customers and infrastructure as the basis of its energy retailing offer.
“By becoming an energy retailer, Ampol will be able to bring new customer propositions to market off the back of its generation and mobility investments.
“Ampol Energy Pty Ltd is focused upon the evolving and charging energy market as Australian consumers and businesses continue a trend towards decarbonisation. Energy markets and consumer preferences will continue to converge, so as such, the structure of the business is aligned to our future view of the market. Nonetheless, supplying energy to household and business consumers is a key pillar of our future business direction,” stated Ampol.
In its application to the AER, Ampol Energy outlined its strategy and announced its leadership team, which will be headed by former CEO of energy retailers Australian Power and Gas, and Mojo Power, James Myatt.
Adam Lourey will join as Regulatory and Compliance Manager, Rochelle Schuenker will serve as acting Head of Retail, while Doug Darley, former CFO of Ampol’s Fuels and Infrastructure division, will join as COO.
Ampol Energy states that if approved it will offer its energy products to the states in the National Electricity Market (NEM) – Queensland, New South Wales (including ACT), Victoria, Tasmania, and South Australia.
Ampol Energy says it will be using a “hybrid model” of onshore and offshore customer support services.