UnionsNSW: Stop Power Generators sale

New analysis by unions has shown that selling off the State's power generators will deliver only $1.7 billion - the equivalent of $18 million per electorate - a drop in the ocean that will not solve the State's infrastructure backlog.

Unions NSW Secretary, Mark Lennon said the paltry financial return for selling major public energy assets showed the folly of the sale.

"When you break this sale down, you quickly realise the State is hocking major infrastructure for a pittance," Mr Lennon said.
"$18 million per electorate will deliver little more than a major roundabout and yet we will lose vital public power generators and their revenue streams.
"The Government needs to abandon this ill-conceived sale and put the public interest front and centre of this debate.
"$18 million is nowhere near the $500 million we estimate is needed on average in each electorate over the coming decade."

Industry sources have valued the state’s power generators at $5 billion, but once debt is included, the final proceeds will be as low as $1.7 billion.
Domestic and international evidence has also shown that private ownership of energy generators leads to higher prices in the end for consumers.

"Working people in NSW deserve a Government that protects their financial and economic interests, particularly in uncertain times," Mr Lennon said.
"There's overwhelming community opposition to this sell off and the Government needs to abandon it immediately,"