Electricity prices will go up even more after privatisation
We all remember electricity prices going up year after year under the Barnett Government.
We now know Mr Barnett had been fattening up our electricity system for sale.
From the time the Liberals were elected in 2008 through to their last State Budget in 2016, they put up electricity prices by 85 per cent. That is an increase of more than $800 for the average Western Australian household each year.
Mr Barnett and his Treasurer Mike Nahan knew that the more money our electricity utilities appear to be making, the more money they will fetch when offered for sale or lease to the private sector.
The number one priority of a private company is to make profit. So, ask yourself this... if Western Power goes from being a publicly owned monopoly to being a privately owned monopoly, do you really think power prices will come down. Or will the new private owner or lease holder use their dominant market position to make as much money as possible?
With privatisation, the community always pays. Whether it is through higher prices, fewer jobs and apprenticeships or poorer quality services.
And, with the privatisation of Western Power, it would be all pain and no gain. Even if every cent raised through the sale or lease was used to pay off the debt accumulated by the Barnett Government, the interest saved wouldn't offset the financial benefits Western Power would have delivered to the state government each year, if it was still in public ownership.
In fact, the only people who would benefit are the stockbrokers and corporate advisors on St George's Terrace, who would make hundreds of millions of dollars in commission on the transaction.
If you want to stop the privatisation of Western Power and the rest of our electricity system, let’s continue to work together and use your power to keep WA’s publicly owned electricity system in public hands.