RAJ REPORT

Should Government make HUGE PROFITS from Basics like Electricity ——–$800 MILLION ——–Electricity companies rake in the profits without spending on infrastructure | The Courier-Mail———-Most of the earnings came courtesy of high power prices paid by households which have been driven up by continued investment in the electricity network. However, while the distributors last year slashed their infrastructure program, the reduction is not recognised under national electricity rules which guarantee them a return on predicted spending over five-year intervals.

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Ergon chalked up a $434 million profit compared to a $315 million target last financial year while Energex recorded a $361.4 million profit after predicting they would make $320 million.

The almost $800 million in profits was $160 million more than predicted and flowed straight into the Newman Government’s coffers.

 

 

Electricity companies rake in the profits without spending on infrastructure | The Courier-Mail.

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