Australian fuel giant Ampol has officially exited the retail electricity sector in both Australia and New Zealand, shifting its focus squarely toward the rapidly growing electric vehicle (EV) charging market.
In a statement to the Australian Securities Exchange (ASX) this week, Ampol confirmed the sale of its Ampol Energy retail electricity business in Australia to AGL for what it described as a “nominal amount.” Meanwhile, in New Zealand, Meridian Energy will acquire the Z Energy and Flick Electric retail contracts and hedge books for NZ$70 million (AU$64 million).
The company expects these divestments to boost its EBITDA by AU$30 million by the end of 2025.
Ampol said the decision follows four years of active participation in the energy market, during which it reassessed its strategic strengths. “We’ve learned where we can be most competitive,” the company noted, signaling a clearer commitment to EV infrastructure over traditional retail energy.
Key Points
Ampol sells:
Ampol Energy (Australia) to AGL
Z Energy and Flick Electric (New Zealand) to Meridian Energy
Reason: Refocus on EV charging, where Ampol sees stronger growth and competitiveness.
Financial impact: +AU$30 million in expected EBITDA by year-end.
The move underscores a broader shift among traditional fossil fuel companies looking to adapt to the evolving energy landscape by investing in low-emission technologies and infrastructure.
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