In 2000 Powerdirect secured retail licences in states that were planning to open to full retail contestability (FRC).

FRC meant that residential and small business customers could choose their electricity retailer for the first time.

 

In 2001 the business was listed on the Australian stock exchange under the name of Powerdirect’s parent company, Australian Energy Limited.

 

In 2002 the Victorian electricity market opened to full retail contestability, the first market in Australia to embrace competition. On 13th of January, the first day of transfers, Powerdirect became the new retailer of choice for 86% of transferring customers - a monumental achievement for a small business!