October 28, 2012

SYDNEY, 29 Oct – POWER USERS IN AUSTRALIA paid for a $40 million substation as part of $1 billion spent on gold-plating electricity infrastructure — and it’s not even hooked up to the grid.

State-owned energy company Ausgrid spent the cash in breach of national electricity guidelines, with the costs passed on to consumers as higher network charges on their quarterly power bills.

The company is planning to spend another $1 billion on pointless upgrades to poles and wires over the next two years, potentially adding a further $502 to the annual family power bill, according to the national regulator.