Remember this article I posted a week ago about a week ago The Solar Panel Conspiracy which talk about how we are being forced into solar energy so the energy companies can sell it back to you at a higher rate? How much more proof do you need??
What is the reason for the massive price hike?
Well the energy companies are claiming that they need the money to repair infrastructure….. so what!! This is not how business is done. If you want to expand your business you have to invest money into the business which would come from selling shares, your own pocket, company profits or get a loan. How could any other form of business survive by increasing its rates by 64%? they would lose all their clients and have to shut the doors, but when you have a Monopoly you can get away with it.
The Energy Co’s are not exactly short on funds either:
As you can see from the chart above.
08/09 Energy Australia made $231 Million and paid $272 Million to the Government.
07/08 Energy Australia made $268 Million and paid $272 Million to the Government.
http://www.annualreport.energyaustralia.com.au/
So why can’t they reinvest that $499 Million back into the infrastructure? that is what every other business has to do and if the government wanted to step in and help how about using some of the $544 Million that they made?Also keep in mind this is only profits based on the past 2 years they should have much more then this sitting in their kitties.
As you can see you have a corporation walking all over the citizens of this country and our government who is suppose to prevent this and protect its citizens is letting it happen. It just goes to show that the Australian Government cares more about corporations then its people.