Report investigates energy
❝impact The bill based on the proposed rate of return methodology calculated in the Sapere Report is significant...
THE Australian Industries Energy Taskforce has released an independent report highlighting a broken energy system.
The report, undertaken by the Sapere Research Group, showed profits made by electricity networks were more than $2.6 billion higher than they should be, according to the Australian Energy Regulator’s rate of return guideline.
Queensland Farmers’ Federation president Stuart Armitage said increased energy prices had placed enormous strain on farmers.
“The research shows the AER’s rate of return data strongly implies the method used to determine the allowed rate of return, materially over-estimates the systematic risk exposure of the networks and breaches the rate of return objective in the National Electricity Rules,” Mr Armitage said. “The bill impact based on the proposed rate of return methodology calculated in the Sapere Report is significant, adding perhaps 3-5 per cent to the typical retail bill.”
QFF is calling for immediate action.
“Unsustainable electricity price increases and lagging productivity will result in more expensive food and fibre.”