Reports out of the Courier Mail have said that state-owned electricity giant, Energex, are reaping in a $1 million profit each day. It is likely that their profit figures will be mirrored by Queensland’s other distributor, Ergon Energy.

The energy distributor recorded profits of $201.3 million in the first six months of the 2012/13 financial year – $50 million higher than that of the previous year. Figures for energy retailers Origin and AGL were $794 million and $364 million respectively.

The reports come while struggling Queenslanders await massive 21.4% price rises in July this year. Many are outraged that the state government would reap such rewards while its people are struggling. It is said that around 80% of the profits will go to the Newman Government.

Energy Minister, Mark AcArdle, is urging the state government to use the profits to soften the price increases that are on the horizon for Queensland but says they are thinking up other longer term solutions. “I have no doubt that people are very concerned,” he said, and he is “acutely aware that families and businesses were struggling.” The Queensland Competition Authority (QCA) will deliver its final determination on the price rises at the end of May. Other reports have said that profits have been promised elsewhere and it is unlikely that the funds will be used to curb price increases.

It has been recommended that state electricity assets such as Energex should be sold off to help cover debt. Mr McArdle is against privatisation and claims there is a strong argument to keep energy assets under state control and make them more efficient. As it is, slashing profits will seriously affect the value of the business to prospective buyers but not using the profits to help Queensland families will see families suffer exorbitant prices.

With many very worried Queenslanders at the mercy of the Newman Government’s every decision and awaiting the QCA’s final determination, it makes good financial sense for us to turn to solar power. With prices continuing to fall, solar power has never been so affordable. Having solar power will give Queenslanders some breathing space and make them less reliant on the grid and the decisions made by others in power.

There are solar power options to suit every situation and every budget. Don’t waste more time worrying about the electricity bills you may receive and start generating your own power free from the sun today! Call or click for an obligation free quote and get a free solar savings report as well. This is to help show you what your electricity bills could look like if you were to install a solar power system. It will also highlight your energy usage, solar power generation amounts as well as the time a system would take to pay itself off.

Call today and you will be glad you did.