Under the Liberals, electricity bills have already gone up by $629 per year – or 42.6 per cent. They are removing the regulated maximum price on power prices, meaning there will be no limit to how much power companies can charge for electricity.
Now Mike Baird is pushing to privatise our electricity network – our “poles and wires” – a move NSW Labor strongly opposes.
Privatising electricity will mean higher prices for families across NSW
The only two states with a privatised poles and wires network are South Australia and Victoria.
Earlier this year, the independent Australian Energy Regulator found that “electricity charges are highest in South Australia” and that “electricity charges were broadly similar in Victoria and New South Wales,” despite the New South Wales power network being four times larger (in area) than Victoria.
No private company is going to buy these businesses to put down power prices.
Selling poles and wires will lose NSW over $1 billion of revenue each year
Each year NSW receives over $1 billion to fund infrastructure, nurses, teachers and police, because our state owns the electricity network. Last year alone the NSW government received $1.7 billion from our poles and wires network.
If we sell the network we lose this money forever – and these dividends will go to a private company as profits, instead of going back to the government to fund infrastructure, teachers, nurses and police.