Push to unplug ‘supernormal’ profits of Australia’s power networks to ease pain of rising bills

Report finds up to 33% of looming price rises could be avoided if state and federal governments cracked down on return allowed for suppliers

• Get our morning and afternoon news emails, free app or daily news podcast

Up to a third of looming residential power bill hikes could be avoided if governments cracked down on electricity networks, research finds.

The monopoly power networks should not continue to reap large profits while households pay skyrocketing bills, the independent Institute for Energy Economics and Financial Analysis said in a report released on Thursday.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

from World news | The Guardian https://ift.tt/hjua04F
via IFTTT