Force energy networks to write down their assets to cut energy prices.
Since 2009, the electricity networks that own and manage our “poles and wires” have spent over $45 billion upgrading the electricity system. It is everyday households that are repaying the cost of this investment, with interest, through our energy bills. This has been the major driver to energy prices doubling over recent years.
There is widespread recognition that this is infrastructure we don’t need, especially as we transition to a much more distributed energy system and falling energy demand. There is an urgent need to write down the value of network infrastructure already installed and paid for by consumers. Energy networks should not be protected from their poor investment decisions through guaranteed returns.
Energy is unaffordable for too many Australians. Last year we released a report called ‘Heat or Eat’ to tell the real stories of Victorians forced to choose to heat, or eat.
Policy contact: Denise Boyd: 03 8554 6904 – firstname.lastname@example.org
Media contact: Jonathan Brown: 0413 299 567 – email@example.com