❓ The Premier acknowledges an upcoming electricity price increase but doesn't specify the size, blaming previous Labor government policies for the current financial state of the utilities. He promises to reduce prices once the system is fixed.
AnsweredQoN 826Legislative Assembly
QuestionView source ↗
ELECTRICITY PRICES
The Premier has conceded there will be a significant increase in electricity prices next year. Will he be honest with the public and explain precisely what size that increase will be? Mr C.J. BARNETT
The Premier has conceded there will be a significant increase in electricity prices next year. Will he be honest with the public and explain precisely what size that increase will be? Mr C.J. BARNETT
AnswerView source ↗
The size of whatever increase will occur next year has yet to be determined. Although Verve Energy, the major generator in the state, had reduced its losses, it is still running at a $170 million loss for the last financial year. Bear in mind, before Labor got control back in 2001, our electricity utilities in Western Australia were making profits of around $250 million. The Labor government drove them into massive debt and losses. It took a good company, Western Power, making $250 million, and turned it into a financial basket case. We have yet to determine the size of the increase, but there will be an increase. When I ran the electricity industry, the lights stayed on, profits were made and in only one year out of eight was there a three per cent increase in electricity prices. When we fix the system, we will get prices down again.
Mr C.J. BARNETT replied: The size of whatever increase will occur next year has yet to be determined. Although Verve Energy, the major generator in the state, had reduced its losses, it is still running at a $170 million loss for the last financial year. Bear in mind, before Labor got control back in 2001, our electricity utilities in Western Australia were making profits of around $250 million. The Labor government drove them into massive debt and losses. It took a good company, Western Power, making $250 million, and turned it into a financial basket case. We have yet to determine the size of the increase, but there will be an increase. When I ran the electricity industry, the lights stayed on, profits were made and in only one year out of eight was there a three per cent increase in electricity prices. When we fix the system, we will get prices down again.
The size of whatever increase will occur next year has yet to be determined. Although Verve Energy, the major generator in the state, had reduced its losses, it is still running at a $170 million loss for the last financial year. Bear in mind, before Labor got control back in 2001, our electricity utilities in Western Australia were making profits of around $250 million. The Labor government drove them into massive debt and losses. It took a good company, Western Power, making $250 million, and turned it into a financial basket case. We have yet to determine the size of the increase, but there will be an increase. When I ran the electricity industry, the lights stayed on, profits were made and in only one year out of eight was there a three per cent increase in electricity prices. When we fix the system, we will get prices down again.
Mr C.J. BARNETT replied: The size of whatever increase will occur next year has yet to be determined. Although Verve Energy, the major generator in the state, had reduced its losses, it is still running at a $170 million loss for the last financial year. Bear in mind, before Labor got control back in 2001, our electricity utilities in Western Australia were making profits of around $250 million. The Labor government drove them into massive debt and losses. It took a good company, Western Power, making $250 million, and turned it into a financial basket case. We have yet to determine the size of the increase, but there will be an increase. When I ran the electricity industry, the lights stayed on, profits were made and in only one year out of eight was there a three per cent increase in electricity prices. When we fix the system, we will get prices down again.
The size of whatever increase will occur next year has yet to be determined. Although Verve Energy, the major generator in the state, had reduced its losses, it is still running at a $170 million loss for the last financial year. Bear in mind, before Labor got control back in 2001, our electricity utilities in Western Australia were making profits of around $250 million. The Labor government drove them into massive debt and losses. It took a good company, Western Power, making $250 million, and turned it into a financial basket case. We have yet to determine the size of the increase, but there will be an increase. When I ran the electricity industry, the lights stayed on, profits were made and in only one year out of eight was there a three per cent increase in electricity prices. When we fix the system, we will get prices down again.
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