Force power bosses to justify
18pc price hike, says Foley
POWER price rises could be curbed if Premier Barry O’Farrell demanded energy bosses justify electricity price hikes, says State Opposition energy spokesman, Luke Foley.
“Mr O’Farrell should drag in the bosses of the state’s electricity companies and forensically audit line by line their expenditure on network upgrades,” Mr Foley has told Sydney journalists.
Power prices are set to rise an average 18.1 per cent following the state pricing regulator’s approval of hikes from July 1, when the carbon tax comes into effect.
EnergyAustralia customers will cop a 20.6 per cent rise, compared with 19.7 per cent for Country Energy customers and 11.8 per cent for those with Integral Energy.
It comes on top of average increases of 10 per cent and 17 per cent across NSW in 2010-11 and 2011-12 respectively.
The Independent Pricing and Regulatory Tribunal has blamed rising network costs and the cost of compliance with federal and state government “green schemes”, including carbon pricing.
The price increases announced yesterday (Wednesday) are slightly higher than those announced during a draft determination in April.
Federal Climate Change Minister, Greg Combet, says households will be properly compensated as average New South Wales power bills rise by $170.