Savings created from the merger of Ausgrid, Endeavour Energy and Essential Energy will be passed on to household energy users as a measure to contain further price rises, Liberal Member for Penrith Stuart Ayres said today.
\”Considering the immediate costs involved in revamping our electricity infrastructure after years of neglect and the impending carbon tax we’re going to have a number of pressures on household energy bills in the future.\” Mr Ayres said.
\”The $400 million in savings created by this merger will go a long way in containing the increases to household energy bills created by the carbon tax and the former government’s neglect of the electricity network.
\”For too long the former Labor Government soaked up the profits from our publicly owned utilities while not investing in the necessary upgrades to ensure the network capacity can be relied upon to cater to our growing population.
\”We can’t afford to allow inefficiencies in our electricity network to continue while there is so much upward pressure on power prices.
\”This move by the government is essential if we are to contain any future increases to our cost of living and the cost of doing business in NSW.\”