Original article by Peter Hannam
The Guardian Australia – Page: Online : 22-Nov-23

The Institute for Energy Economics & Financial Analysis has released a report that highlights the massive earnings of Australia’s electricity distribution network operators. It estimates that in addition to "normal" profits of about $16bn since 2014, electricity distributors have generated some $11.1bn worth of "superprofits" over this period – including $2bn in 2022-23. The excess profits equate to between $80 and $400 for each customer, depending on the area they service. The report’s author Simon Orme says the excess profits of the ‘poles and wires’ companies are reducing energy affordability and adding to economy-wide inflation.

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INSTITUTE FOR ENERGY ECONOMICS AND FINANCIAL ANALYSIS