DUET invests in energy utility assets with strong competitive positions which offer predictable cash flows. DUET's diversified portfolio of assets comprises:
Dampier Bunbury Pipeline
60.0% interest
The Dampier Bunbury Pipeline is the only natural gas pipeline connecting the natural gas reserves of the Carnarvon and Browse basins on Western Australia’s North West Shelf with industrial, commercial and residential customers in Perth and the surrounding regions. The pipeline runs from the Burrup Peninsula, near Dampier, to Bunbury, near Perth, in the south-west of the state.
Duquesne Light
29.0% interest
Duquesne Light is an energy utility based in Pennsylvania, US. It provides essential electricity distribution and transmission services to approximately 587,000 customers in a service territory of over 2,072km² in Pittsburgh and surrounding regions.
Duquesne Light has been a committed, Pittsburgh-based public service provider and community partner for over 125 years, providing the region with a reliable, safe and efficient electricity service.
United Energy Distribution
66.0% interest
United Energy Distribution’s electricity distribution network covers 1,450km² of south-east Melbourne and the Mornington Peninsula. The distribution network transports electricity from the high voltage transmission network to residential, commercial and industrial electricity users. UED’s distribution area is largely urban and, although geographically small (about 1% of Victoria’s land), serves around one quarter of Victoria’s population.
Multinet Group Holdings
79.9% interest
Multinet Group Holdings is a Victorian gas distribution company with a network covering 1,940km² of the eastern and south-eastern suburbs of Melbourne. Multinet is currently expanding its geographic base through participation in the state government’s natural gas extension program. Multinet’s distribution network transports gas from the high pressure transmission network to residential, commercial and industrial gas users.
WA Gas Networks
25.9% interest
WA Gas Networks owns, operates and holds distribution licences for four gas distribution systems in Western Australia. These gas distribution networks supply natural gas to residential, commercial and industrial customers in metropolitan Perth, Geraldton, Bunbury, Busselton and Kalgoorlie-Boulder, and liquefied petroleum gas (LPG) to Albany.
WAGN’s customers represent the majority of Western Australian households and a range of commercial customers – all supplied gas through its four networks. WAGN’s networks include 12,773km of pipelines covering an area of approximately 3,800km2 (including regulated and unregulated networks).
The balance of the equity in UED is held by Singapore Power International Australia. The balance of the equity in Multinet and WA Gas Networks is held by Babcock and Brown Infrastructure. In the case of DBP, the remaining equity is held equally by Babcock and Brown Infrastructure and Alcoa of Australia Limited. Duquesne Light is owned by DQE Holdings. The shareholders in DQE Holdings are: DUET; CLH Holdings (for Macquarie Infrastructure Partners); Industry Funds Management (Nominees) Limited as trustee of the IFM (International Infrastructure) Wholesale Trust; and four other Australian unlisted investment funds.
UED and Multinet have Operating Service Agreements (OSAs) in place with Jemena Asset Management (JAM). DBP and WA GasNetworks have OSAs in place with WestNet Energy (WNE). Further details regarding the OSAs of UED, Multinet, DBP and WA Gas Networks are provided within the original DUET Initial Public Offering PDS and the DUET Offer PDS in relation to the DBP acquisition.
