[Greens-Media] Electricity sell-off headed for fire sale

[John Kaye]

Electricity sell-off headed for fire sale 
 
Media release: 12 October 2010
 
The Keneally government's electricity privatisation plans are lurching
towards a disastrous fire sale after the competition watchdog announced
an 'informal inquiry' into the carve up of the state's power industry,
according to Greens NSW MP John Kaye.
 
Dr Kaye said: “This has the potential to be one of the greatest public
policy disasters in the history of the state.
 
"The ACCC is clearly concerned that he number of retail electricity
companies available to NSW consumers could be cut in half, shattering
the competition myth. 
 
"At the same time, the Keneally administration is on the point of
setting up government-run coal mines in order to privatise electricity
retailing and generator output trading.  
 
"NSW Treasury is flailing about desperate to hand control of essential
services to the private sector while energy prices are skyrocketing.
 
"The Greens welcome the ACCC's inquiry. However the risks to the
state's holdings are much broader than just a collapse in competition.
 
"The coal contracts fiasco and the risk that the ACCC will put yet more
restraints on who can buy what creates an urgent need for a
parliamentary inquiry to expose the sell-off process to much more
accountability and to stop the state losing billions of dollars.
 
"Electricity privatisation desperately needs an injection of
transparency before NSW Treasurer Eric Roozendaal locks NSW households
into a high carbon, high price energy future.
 
"If the Keneally government has faith in its process it will welcome an
inquiry. 
 
"Blocking an inquiry into electricity privatisation will confirm the
fears of many that the crumbling Keneally government is happy to see key
state infrastructure given to the big end of town at bargain basement
prices,” Dr Kaye said. 
 
For more information: John Kaye 0407 195 455