There are rays of hope amidst the shadows of overseas ownership. Companies like Red Energy, Lumo Energy, and ReAmped Energy stand as examples of partial ownership, linking Australian involvement to their operations. Red Energy and Lumo Energy, both retail subsidiaries of Snowy Hydro, maintain a distinct Australian connection. ReAmped Energy, founded by an Australian, has also garnered local investment support.
Origin Energy, founded in 2000 after separating from the building and construction arms of Boral Limited, is a part of the Australian history. Although listed on the ASX, it enjoys a semblance of local ownership through shareholders worldwide. And then there’s Momentum Energy, which asserts its 100% Australian ownership through its affiliation with Hydro Tasmania, a major player in the country’s clean energy landscape.
In the midst of this intricate tapestry of energy ownership, one thing is clear: the Australian energy landscape is far more nuanced than it appears. As consumers, we hold the power to demand transparency and clarity about where our energy dollars flow. Perhaps it’s time to shine a light on the fine print, and ensure that our hard-earned money stays closer to home – supporting local communities, businesses, and our very own Land of Oz.
