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Sucking energy out of consumers


Source: The Daily Telegraph, 10 May 2013

The NSW government is making "huge profits" from state-owned electricity suppliers at the expense of families, the Opposition says.

In the latter half of 2012, profits from the state-owned suppliers - Ausgrid, Essential Energy, Endeavour Energy and TransGrid - jumped by a "whopping $430 million," Opposition Leader John Robertson said. Figures released by Mr Robertson showed Ausgrid's profits increased 72.95 per cent and Essential Energy's by 107.72 per cent during the period.

Endeavour Energy's profit rose 18.91 per cent and Trans-Grid's by 25.91 per cent.

Mr Robertson said the profit increases occurred at the same time electricity prices rose by up to $750 for the average household.

"Company profits are going through the roof while NSW families are footing the bill," Mr Robertson said.

 "If the Premier was serious about reducing the electricity bills of families he would simply reject the record dividends his government is receiving from these profits."