Australian state planning blockbuster electricity sale should mull writedown: Senate

April 20, 2015 6:46 AM

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SYDNEY, April 20 (Reuters) - An Australian state government planning the partial sale of an electricity network in the country's biggest ever privatisation should first consider writing down the asset because of declining energy use, a parliamentary report said on Monday.

The recommendation, in a draft Senate report published on Monday, could, if taken up, affect the price New South Wales fetches as it aims to raise about A$17 billion ($13.27 billion) by selling 49 percent of its so-called "poles and wires" to fund a host of new road and rail developments.

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