One Nation (NSW Division) Media Release - 14/1/2008
Privatisation of Electricity in NSW Will Cost Each User $4572
Privatisation of electricity in NSW will cost each customer an average of
$4572
This is based on the 15 billion dollar price tag having to be recouped by
the purchaser from NSW Electricity account holders.
These account holders number 3,280,623 being made up of Energy
Australia's 1,568,308, Country Energy's 870,000 and Integral Energy's
842,315, according to these companies' annual reports.
Dividing 3,280,623 into 15 biillion gives $4572 per customer. The new
owner will have to recoup this in charges over and above the operating
costs and any new investments for updating equipment. It does not include
interest repayments on the loans they will raise to get the money, and
any exhorbitant executive salaries, monopolistic profiteering or
mismanagement. Over what period each customer will have to pay the $4572
will depend on how many years the purchaser will allow to get its money
back.
Unless each NSW Electricity account holder is going to get $4572 worth of
extra services from the Iemma Government with the sale money, One Nation
says privatisation doesn't look like a very good deal.
Statement issued January 14th, 2008 on behalf of One Nation (NSW Division) by Bob Vinnicombe Publicity Officer
For more information contact Bob Vinnicombe 0407949963 / (02) 96454910