Why choose the energy industry?

Why choose the energy industry? Daniel Nugent

Daniel Nugent
Business Development Lead

In a business development role you want to be looking for opportunities for growth in an exciting and challenging industry. Since joining EnergyAustralia (TRUenergy at the time) in 2010, I have been fortunate enough to play a key commercial role in numerous major transactions and business development activity.

Having previously worked as a senior associate at KPMG Corporate Finance, advising clients on a range of transactions across many different industries, I was keen to use these technical skills to build a deeper relationship with the strategic objectives of an organisation in a interesting and exciting sector - I don’t think I could have picked a better industry.

With EnergyAustralia I have had the opportunity to be involved in many large-scale, strategic projects, such as a $2.1billion transformational acquisition in which we acquired a customer base larger than our own, along with the generation rights for two black coal power stations in NSW.

I have also been involved in the disaggregation of a joint venture, project financing and equity divestment of a South Australian wind farm, the acquisition of two power stations, and greenfield development projects covering gas, wind, and solar. Along with this transactional and development experience, there has been numerous business improvement initiatives covering every function of the business.

The energy industry has its own unique and interesting challenges. Take wholesale price volatility as an example, a MW of electricity can go from $30/MW to $14,000/MW within a couple of hours which obviously presents significant risks and opportunities for a company with around 2.6 million customer accounts.

There is also significant regulatory uncertainty which materially alters the outcomes of long-term investment decisions. In my time in the sector I have seen a carbon price introduced, and then consequently repealed two years later, a splitting of the Renewable Energy Target, then a review and adjustment to the target itself. The only constant is change.

The innovation in distributed generation driven by solar and battery solutions, in particular, and focus on lower emissions intensity is changing the way customers think about their electricity consumption. As a business, we need to be at the forefront, leading this change and putting our customers first. Through my role, I look forward to being a part of this change at EnergyAustralia.