Government taps electricity profits
QUEENSLAND’S merged energy businesses earned a bumper profit of nearly $1 billion last financial year.
The Energy Queensland annual report, released yesterday, showed the new organisation recorded an $881 million profit, with the money being paid to the Queensland Government through dividends.
“Overall the strength of our financial performance across the Energy Queensland Group, with the increased d focus on efficiency and effectiveness across the Group’s operations and the strength of our revenue position, delivered a consolidated net profit after tax of $881 million,” the annual report said.
Opposition Energy spokesman Michael Hart (pictured) said Queenslanders were being gouged on their electricity bills to improve the Government’s finances.