Revealed What Electricity Companies Really Make
ELECTRICITY retailers are reaping record profits while more households than ever are being disconnected for failing to pay their bills.
Figures from Energex's annual report reveal the average customer delivered $372 in profit to the retailer last year — double what it was just three years ago.
The State Government takes 80% of that profit — money, it says, is used to fund electricity rebates and concessions and to subsidise power prices for regional Queenslanders.
But a new report shows that power prices are also too high in the regions, due to an overvalued power network needlessly driving up bills.
After years of double-digit increases, both Energex and Ergon last week flagged rises in network charges in coming years below the rate of inflation.