28 Jul 2017

States and Territories opened the flood gates.10 years ago [states and territories] loosened the monopoly poles and wires businesses

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The Australian Competition and Consumer Commission says the states have been focused on making as much money as possible from their energy businesses at the cost of their citizens.

Chairman Rod Sims said governments have been behind increasing power prices

10 years ago [states and territories] deregulated or very much loosened the monopoly poles and wires businesses. This opened the door for poles and wires businesses to become a good source of income for their owners, the states and territories.

"That pushed up the costs of the poles and wires, and that's 50 per cent of your bill. That almost doubled the poles and wires costs alone.

According to Mr Sims, the behaviour of state and territory governments is price gouging.

"I think there's been too much focus on state governments maximising the revenue from their energy business and not giving a thought to affordability," he told AM.

"I'm afraid I am [saying they've price gouged their citizens]."

How often do people read their state or territories annual reports for their electricity businesses. Not very often I'll bet, mind you, you'd probably have to be an accountant to understand it.

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