Case study

Gas and Fuel Corporation (Gascor)

Industry privatization achieved on time

The Gas and Fuel Corporation (Gascor) was the state owned supplier of gas to the Australian state of Victoria. In line with Commonwealth policy to open utilities to competition, and their own program of asset sales to reduce state debt, the Liberal Government set about breaking up and selling off the gas utility in 1996. PA was called in to oversee the disaggregation process, from planning through to implementation. The initial transition was achieved on target, enabling the new entities to achieve commercial independence ready for the start of the financial year. Furthermore, the introduction of competition enabled Victoria to virtually eliminate state debt.