Premier plundering the profit of West Australians utilities pain
Date: 12 September 2011
Premier Colin Barnett's plundering of Government energy utilities is set to continue with massive profits from three of WA's utility companies set to continue throughout 2011-12.
The 2011-12 Statement of Corporate Intent for Verve Energy, Western Power and Synergy revealed earnings from the government-owned utilities is predicted to reach more than half a billion dollars this year, with much of that going back into Government coffers.
"The Premier should be ashamed of his use of these utilities as a cash cow," Shadow Minister for Energy, Kate Doust said.
"By putting profits before people, his Government continues to hurt Western Australians in need.
"With more electricity tariff increases on the way, the Premier's take will keep getting bigger.
"Over the past three years, Colin Barnett has picked up every Western Australian energy consumer, shaken them up and down, and collected what he could from their pockets.
"Western Australians have little more to give to his extravagant projects and mismanagement of the budget.
|
Utility |
Projected 11/12 Earnings (EBIT) |
|
Western Power |
$251m |
|
Verve Energy |
$192m |
|
Synergy |
$62m |
|
Total |
$505m |