[Greens-Media] High electricity prices sound alarm for Tripodi's power sell-off plans

[John Kaye]

High electricity prices sound alarm for Tripodi's power sell-off plans

Media release: 9 August 2009

NSW household energy bills will be even more inflated under the Rees government's proposed privatisation of electricity retailers, according to Greens NSW MP John Kaye.

Commenting on a story in today's Sunday Telegraph ('We pay more for power', page 7, 9 August), Dr Kaye said: "Consumers in NSW are already reported to be paying more than in other states.

"The Rees government is pushing ahead with plans to sell the publicly owned retailers that serve 94 per cent of consumers to two or three large private corporations.

"Their scheme would create even less competition in the market with even higher household power bills.

"Finance Minister Tripodi is more intent on milking the industry for a cash injection to the state's coffers than he is on designing a sustainable electricity sector that protects household bills.

"If his plan to let retailers join with generators goes ahead, then power bills in NSW will go through the roof.

"Handing over the electricity market to a private duopoly will not create competition. NSW consumers will be captives of predatory multinationals.

"Households need retailers who will work with them to reduce consumption and bring down bills.

"That means taking the profit motive out of the industry and ensuring that electricity suppliers are focused on helping consumers reduce both bills and carbon footprints.

"Minister Tripodi is working behind closed doors to hand over 94 per cent of NSW to multi-national power companies.

"This is the same plan the people of NSW rejected a year ago.

"The Rees government should abandon its power sell-off and instead work on developing new energy saving partnerships between suppliers and households," Dr Kaye said. 

For more information:	John Kaye 0407 195 455