Energy Company Executives Not Struggling To Pay Electricity Prices Hikes

Despite the fact that many Queenslanders are struggling to pay rising electricity prices, energy industry big-wigs are reportedly pocketing million-dollar bonuses and six-figure pay rises.

Grant King, of the state’s biggest electricity retailer Origin Energy received a $1.6 million remuneration package in 2012 and was set to receive a further $200,000 on top of his $2.5 million base salary.

Many Queenslanders on market contracts last month learned of a plan for Origin to raise electricity prices by more than $400 a year, while AGL customers have been hit with a 15 per cent increase.

Major Neil Dickson, spokesman for the Salvation Army believes the hike will be a deadly blow for already low-income households.

“We would like to think that people earning top salaries would feel a responsibility to help organisations, such as the Salvos, in bridging the gap that disadvantaged Australians are experiencing,” he said.

Premier Campbell Newman discussed the prices rises with Mr King in Brisbane recently and warned that he supports Queenslanders in their decisions to shop around for the best electricity prices.

The Author

I took an interest in the Australian energy sector close to ten years ago and since then have monitored the trends, technologies and direction of the Australian Energy Market. I was drawn to the Australian solar market in 2008 and since then have worked heavily in the field. I am partnered with national and international solar energy companies, from manufacturers of solar panel and inverter technology, online software developers that introduce tools to quote, monitor and manage solar power systems and media organisations who like myself, closely monitor the solar and renewable energy sector.

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