Greg Donnelly MLC is calling on the state government to rein in power profits.
Greg Donnelly MLC is calling on the state government to rein in power profits.

Power provider profits blamed for high electricity bills

LABOR MLC for Coffs Harbour, Greg Donnelly, says state-owned electricity companies are making huge profits on the back of energy bills from homes and small businesses.

He said the profits are coming directly from family and small business budgets and are providing the O'Farrell/Stoner Government with record dividends.

"From July to December 2012, energy companies increased their profits by a whopping $430 million," Mr Donnelly said.

"These increases have come while electricity prices have increased by as much as $750 for the average NSW household since Barry O'Farrell came to office."

Mr Donnelly provided figures to show Essential Energy had the biggest profit increase in the six months to December 2012, with a 107.72% rise on the corresponding period in 2011.

This was followed by Ausgrid with 72.95%, TransGrid 25.91% and Endeavor Energy's 18.91%.

"This is the secret that Barry O'Farrell doesn't want the people of Coffs Harbour to know about," Mr Donnelly said.

"People in the electorate have every right to feel let down by Nationals MP Andrew Fraser who should be lobbying the Premier to reduce the cost of living and put money back into the budgets of families and small businesses."



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