Power price crippling growers
❝has This to stop now. Electricity prices must be reduced. — Dan Galligan
HOW much more evidence do governments need before they act on unfair and crippling power prices? The patience of the community has been exhausted by governments that refuse to rein in the big profits of power companies, according to Canegrowers chief executive office Dan Galligan.
“The Australian Competition and Consumer Commission report has found power prices across Australia have risen 60% in the past decade but for our Canegrowers members and other irrigators the rises have been 130%!” he said.
“The ACCC has backed up what we have been saying for years, that these rises and their terrible toll on the profitability of farms are principally driven by the ‘gold plating’ of the power network, the lack of effective retail competition and failing regulatory arrangements – they have nothing to do with the actual costs of generating and supplying electricity.
“This has to stop now. Electricity prices must be reduced.
“Power companies have passed on the costs of their over-investment in poles and wires to consumers and successive Queensland Governments have reaped the benefit, through dividends, to the tune of $1.5 billion each year.”