Ergon and Energex dividends to Queensland Government triple, electricity lobby group says prices too high
The Queensland Government’s dividend from state-owned power companies has tripled in one year, prompting a call for profits to instead be passed onto consumers via lower power bills.
The Energex annual report, released last week, shows dividends paid to the State Government rose from $406 million in 2014 to $1.3 billion in the 2014-2015 financial year.
Alliance of Electricity Consumers lobby group spokesman Jonathan Pavetto told 612 ABC Brisbane Ergon dividends rose from $400 million to $1.9 billion over the same period.
He said profits for Ergon and Energex doubled in one financial year.
“It’s quite clear that electricity prices are too high,” he said.