They started Rimfire Energy, a private provider of electricity, in a jurisdiction where the only enduring power supplier had been the NT Government-owned Power and Water Corporation. 

In effect, the entrepreneurs were on the frontline of a revolution. 

“Getting started in the Territory, competing in a market where competition essentially hadn’t existed previously, was not easy,” says Michael. “Because we were a startup I was out selling, not a skill that comes naturally to me. 

“After eight months and overcoming some surprisingly strong resistance to believing competition had in fact come to the NT, we signed our first customer – a medium-sized, established company. 

“We secured two more corporate customers the following month, including the first customer ever to switch in Alice Springs. By the end of 2015, Rimfire Energy had grown to be the largest non-government electricity retailer in the Northern Territory. 

“It wasn’t all smooth sailing but we were away. Some established businesses realised competition was important if they were going to encourage better pricing, products and services, and were strong supporters, particularly in the early days, and still now.

“And the Government-owned Territory Generation and Power Water Corporation should be acknowledged for maintaining a level playing field for competition and facilitating customer transfers at a time before customer transfers became the norm. 

“We were definitely on the bow wave of change.”

The company was operating out of a one-room office in Brisbane and Maria was “coaxed away from happily looking after young children” to do Rimfire’s books as the company couldn’t afford to pay anyone else at the time.

Rimfire’s first paid employee started in February, 2014, and the company secured a NT electricity retail licence in August 2014. 

“Our customer base continued to grow and I was commuting between Brisbane and Darwin. It got to the point where I was only home mainly on weekends, arriving at 6am Saturday on the night flight, and departing again on the Sunday or Monday night. 

“We had three very young children, the youngest under one year. It was no life for them, nor for Maria and me. I would arrive to spend just enough time to wind up the kids and to disrupt Maria’s schedule, and then depart.”

On Boxing Day, 2017, the family loaded the Prado and drove 3500 kilometres for a new life in Darwin.

“Darwin is a very welcoming place – very sociable, great business opportunities and nothing further than 10 minutes away. 

“We found the transition easy and the lifestyle here has been great. School, sport, work and social life have all been good for the family, and as a family we have found the time not spent commuting is time spent together.”

Once Rimfire had a customer base, it moved onto the next stage – developing generation. It developed Batchelor Solar Farm and the gas-fired Hudson Creek Power Station, which were sold to an investor to build and operate, with all output of the power stations to be sold to Rimfire for onselling to its customer base. 

The plants are the first and only utility scale plants in the Territory developed and financed without government financing and without offtake supported by a government entity.

Following the addition of a solar installation business, the company now has 38 full-time staff working across three business units: project development, electricity retail and solar installations. 

“Rimfire is excited about the future in the Northern Territory,” says Michael. “We Territorians have, perhaps, a once-in-two generations opportunity to build an Australia leading electricity supply network that provides security and reliability in a cost-effective manner, competitive with the rest of Australia, at the same time allowing parties such as Rimfire to continue to find new and innovative ways to lower costs and to pass savings directly to end customers. 

“If we get it wrong, we doom ourselves to a high-cost economy. If we get this right, we will attract people and business to the Territory, along with better products and services and a better lifestyle.” 

Rimfire appreciates the hard and intelligent work of its staff. 

Chief operating officer Kim Howlett has had a range of responsibilities, including developing the power station projects in the 10 years he has worked for the business. 

Maria Walters has recently joined as chief financial officer, bringing extensive local and energy industry experience. 

Rimfire’s three business units each have a general manager with extensive relevant experience: Wayne Moulday in development, Allan Duffell in retail and Dawn Payne in solar. 

“Each leads a capable team enabling market leading product offerings in their space,” says Michael. 

“Rimfire’s staff are acutely aware that we can only do well if we continue to bring value to the Territory and our customers.” 

He says Rimfire has driven savings of more than $30 million annually to the NT economy. 

“As the two power stations have signed sales contracts directly with Rimfire Energy, once they achieve signoff for commercial operation in the near future, these generation savings will pass directly to Rimfire Energy’s retail customers. 

“With savings generated from these innovative projects, Rimfire recently stepped up its push into the residential electricity retail space with an offer of 10 percent discount off the regulated pricing, alongside a market leading solar feed in tariff, for six months on signing up as a Rimfire customer, reverting to its standard discount pricing and feed in tariff thereafter.” 

Rimfire has positioned itself to better manage growth by establishing a board made up of Karen Green, former head partner at Deloitte NT, Andy Cowan, a former senior public servant in the NT, and Peter Finnimore, who has held senior executive positions at large listed entities. 

“Maria and I have long held the view that Rimfire needs to be a company for its employees, not the employees existing for the company,” says Michael. “This then empowers all staff to look after customers and add serious value to the Territory. 

“By doing this we should be positioning Rimfire Group to survive and thrive. 

“Rimfire’s presence in the NT electricity market has had a marked impact on the cost of electricity to Territorians as well as the products and services available. 

“Rimfire is committed to continue to focus on reducing the cost of electricity in the Territory which contributes to the attractiveness of the Northern Territory as a place to live and invest.” TQ