Email By Daniel Mercer Posted May 27, 2019 08:48:16 Photo: Household power prices will rise by just $31 a year from July, with Synergy to miss out as a result. (ABC News: Dean Faulkner) Related Story: Rex spent $8,000 on solar panels he expected to last 25 years — they conked out in four and a half Related Story: Power retailer Synergy accused of price-gouging customers up to $100 million Map: Perth 6000 State-owned power provider Synergy will plunge to a loss amid efforts by the West Australian Government to keep a lid on power price rises and an onslaught of renewable energy. Key points:The gap between Synergy’s costs and household power prices is wideningWA’s Energy Minister says it will be “in a loss-making position” from next year onThe Opposition says the Government has tried to cover up Synergy’s financial woes It emerged in estimates hearings at State Parliament last week that Synergy may need to borrow $140 million over the next four years to fund capital works and cover its deteriorating trading position.Energy Minister Bill Johnston has confirmed Synergy will also fall into the red from 2019-20 as the gap between its costs of producing electricity and the prices… Read full this story
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