National Energy Guarantee a Failure for Australia
Australia’s proposed National Energy Guarantee falls short of delivering much needed saving for the Australian’s. The plan is simply additional paperwork, a legal framework and structure that is bound to create additional costs for Australian Consumers.
All subsidies on Renewable Energy must end immediately, the penalties on coal must be removed, Energy is a critical resource over-taxed Australians are being held to ransom with excessive electrical costs.
For example, the Victorian Government increased coal royalties by 300% and oversaw the closure of the Hazelwood power station.
South Australia’s Playford and Northern Power stations were both closed in 2016. South Australia’s disastrous 50% renewable energy target experiment has led to blackouts.
The Government has to limit the trickery at the energy companies and make the relationship between the consumer and the energy company a simple process set in legislation, not a guideline that simply changes the nature of how consumers are tricked.
Stop the billions flowing to the Australian Renewable Energy Agency (ARENA) and shut the program down. If renewable energy works it has to work in competition to the alternatives alone and not funded by taxpayers. If taxpayers are to fund these projects the energy produced should be free.
Cap the price at which energy can be sold to remove price gauging and put an end to the ridiculous fees charged to consumers.
Allow more companies to enter the energy markets. Encourage investment in clean coal projects.
While the Australians footed the bill and Canberra talked:
Origin Energy EBITDA increased by 21 per cent to $1.8 Billion while Australians suffered.
Frank Calabria MD, CEO & Executive Director, Origin Energy Limited banked A$3,695,278 last year at the direct expense of Australians.
This how that electricity bill of yours gets spent
Frank Calabria Annual Compensation*
|Total Annual Compensation||A$2,478,255|
|Long Term Incentive Plan||A$891,943|
|All Other Compensation||A$325,080|
|Total Number of Options||1,096,046|
|Total Annual Cash Compensation||A$2,803,335|
|Total Short Term Compensation||A$2,478,255|
|Other Long Term Compensation||A$325,080|
|Total Calculated Compensation||A$3,695,278|