TXU is Australia’s third largest power retailer and SingPower already owns SPI PowerNet, the monopoly electricity transmission network in Victoria.

While the ACCC remains uneasy with the vertical integration plans of SingPower – raising ‘significant concerns’, it said its concerns had been addressed by the offer of (confidential) court-enforceable undertakings.

"The ACCC has agreed to the court-enforceable undertaking submitted by [SingPower] that provides for the separation of the transmission and generation business," said commission chairman Graeme Samuel.

In Victoria, TXU owns a gas and electricity distribution network and has a 20-year hedge agreement with EcoGen Energy, which owns 966MW of gas-fired generation. It also has a 99-year lease on the 1200MW Torrens Island gas-fired power station in South Australia.