Alinta Energy Transfers CORE Billing System to Tally Group

September 20, 2024 03:09 PM AEST | By Team Kalkine Media

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Alinta Energy Transfers CORE Billing System to Tally Group — Image source: shutterstock

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Electricity and gas supplier Alinta Energy has entered into an agreement to sell its retail energy billing platform, CORE, to Tally Group. The financial terms of the deal were not disclosed.

Alinta had engaged Moelis Australia earlier in the year to explore potential buyers for its CORE customer billing system, which manages approximately 700,000 accounts. The platform was marketed to various energy retailers, financial investors, and other interested parties. Comparisons were made with Origin Energy's Kraken operating system, which is associated with Octopus Energy, and the Kaluza platform in which AGL Energy has invested.

According to marketing materials, the local addressable market for the CORE platform was estimated at $600 million, with potential expansion to $2 billion if multi-product applications were developed.

Andrew Duncan, CEO of Tally Group, stated that the acquisition would allow Tally to integrate CORE with its own cloud-native platform. This move would enhance Tally's mass-market capabilities and scale for its clients, including Alinta Energy.

“The combination is very powerful, and we believe no other competitor globally can offer that scope and depth we can now deliver,” Duncan remarked.

The CORE platform has been developed internally at Alinta, which is owned by Chow Tai Fook Enterprises, a Hong Kong-based conglomerate. Alinta's CEO, Jeff Dimery, highlighted that the sale would enable the company to reinvest in its core business operations and streamline processes.

Alinta Energy has been seeking co-investment partners for several of its transition projects, which include offshore wind and other large-scale renewable energy initiatives. Despite the sale of its billing platform, Alinta will remain a major customer of the CORE system under Tally's ownership.

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