NSW Treasurer Andrew Constance

NSW Treasurer Andrew Constance once again highlighted the merits of private investment to drive down electricity network charges, in an independent report commissioned by Uniting Care Australia.

The report, by Carbon and Energy Markets, found that NSW network charges have more than doubled in the past six years – while Victoria, under private ownership, has the lowest network charges in the country.

“This is the sixth independent report to be released in recent years which debunks the theory that private investment drives up prices,” Mr Constance said.

“The scare campaign being unleashed by Labor and the unions simply isn’t backed up by facts.

“Ernst & Young, the Productivity Commission, the Grattan Institute, Houston Kemp and Frontier Economics have all released reports in recent years highlighting the merits of private investment to put downward pressure on prices.

“The Carbon and Energy Markets report shows that around the world, comparable networks with private ownership elements are delivering lower prices.

“NSW residents currently pay more for their electricity than they should, and do not receive the benefits of efficiency that flow to households and businesses where there is private investment in other states.

“NSW Labor and the unions are spreading the biggest lie around town – that the proposed lease of the electricity network businesses will increase power prices.

“Public and private networks in the National Electricity Market are regulated by the AER – an independent body.

“In its draft determination, the AER highlighted potential discounts on a typical household bill in NSW of between $189 and $346.

“The NSW Liberals & Nationals have put an end to the Labor’s mismanagement of the electricity networks and are driving down the cost of living for households and businesses across NSW.”