Government flags super performance test about-face
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Administration fees look set to be included in the prudential regulator’s annual superannuation performance test, with the government conceding dodgy providers could game the system as proposed.
The change would be a win for the super sector and could smooth the way through the Senate for the Morrison government’s priority Your Future, Your Super legislation.
Admin fees look set to be included in the Morrison government’s annual performance test for super funds.
Louie Douvis
Superannuation Minister Senator Jane Hume told
The Australian Financial Review the government had heard the message from stakeholders and while difficult, the change was not impossible.
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Mercury buys New Zealand assets in $3 billion takeover of Tilt Renewables
15 Mar, 2021 04:07 AM
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Tilt Renewables was demerged from Trustpower in 2016. A proposed takeover sees it valued at almost $3 billion. Photo / Supplied
Tilt Renewables was demerged from Trustpower in 2016. A proposed takeover sees it valued at almost $3 billion. Photo / Supplied
Mercury Energy has teamed up with a Queensland pension fund for a $3 billion takeover of Australasian wind farm developer Tilt Renewables, which has seen its value almost double in just over three months. Tilt said today it had entered into a scheme implementation agreement with a consortium of Powering Australian Renewables (PowAR) and Mercury which, subject to shareholder and regulatory approval, would see shareholders paid $8.80 a share, valuing the company at $2.96b.
David Brockwell walks between wind turbines during a routine inspection at the Infigen Energy wind farm located on the hills surrounding Lake George, 50 km north of the Australian capital city of Canberra May 13, 2013. Infigen Energy s Capital Windfarm, built five years ago, was a vanguard for wind power as Australia sought to wean itself from cheap fossil-fuel power in the face of climate shift blamed in part for Lake George s transformation to a vast plain. But big plans to expand the Infigen renewable energy project near Canberra and others like it have been put on hold awaiting the outcome of an election in September. The ballot, which opinion polls show the opposition conservatives winning, along with an economic slowdown and rising home energy bills have put the brakes on Australia s decade-long clean energy push. At stake in the Sept. 14 vote is a controversial carbon trading scheme championed by ruling Labor to curb greenhouse gas emissions, with a $20 billion pipeline in ren