Gold-plated Rorters: power users gouged $10bn as big suppliers...

Gold-plated Rorters: power users gouged $10bn as big suppliers sobbed crocodile tears
by Mark Sawyer | Oct 5, 2022 | Energy & Environment


This is classic ‘gold-plating’ in the industry parlance. The more the network giants can convince the regulators they need to spend on poles, wires and other business expenses, the more they recoup from the regulators in higher bill prices from customers.

The report, Regulated Electricity Network Prices Are Higher than Necessary, found the actual profit that energy network providers received from electricity consumers over 2014 to 2021 was 67% higher than the normal level of profit.

Total excess charges to customers adds up to almost $10 billion between 2014 and 2021 or between $800 to $1200 per customer (depending on state with only ACT residents managing to avoid these huge excess fees).