Environment groups have asked the national energy watchdog to investigate claims by TRUenergy that suggest the company may be about to default on electricity supply contracts.
Over the past year TRUenergy has repeatedly claimed there was a risk of blackouts if it did not receive more compensation under a national emissions trading scheme.
Environment Victoria and the Australian Conservation Foundation have today written to the Australian Energy Regulator, asking the regulator to examine the accuracy of TRUenergy’s claims that the company may be about to default on contracts.
Environment Victoria Campaigns Director Mark Wakeham said: “TRUenergy’s 1.3 million customers deserve to know whether they can rely on TRUenergy to deliver on its contracts and whether the company is crying wolf in an attempt to line its own pockets.
“Claims that the electricity supply is at risk and that the company has reduced maintenance spending at Yallourn power station should be thoroughly investigated.”
TRUenergy is 100 per cent foreign owned by CLP Power International (formerly China Light and Power). ACF climate campaigner Phil Freeman said he was concerned about windfall profits going offshore with no benefit to Australian households or taxpayers.
“TRUenergy is already set to receive $738 million worth of free permits in the first five years of the proposed Carbon Pollution Reduction Scheme. There is no case for the company to get more handouts from the public purse,” Mr Freeman said.
“The Government should reject these scare tactics because giving more handouts to big polluters will slow down the transition to a low carbon economy and lessen the environmental effectiveness of the emissions trading scheme.”
The letter has also been sent to the Australian Energy Market Operator, the Essential Services Commission, the Australian Energy Market Commission and the Australian Competition and Consumer Commission.
Environment Victoria Campaigns Director: Mark Wakeham 0439 700 501
Australian Conservation Foundation climate campaigner: Phil Freeman 0438 043 049
Letter to energy watchdog about TRUenergy claims