Origin Energy lands $4.5m from Andrews Government towards solar power battery project

AN ENERGY giant that made $1.8 billion last year has been handed $4.5 million from ­taxpayers by the Andrews Government, to help it build a “virtual power plant”.

AN ENERGY giant that made $1.8 billion last year has been handed $4.5 million from ­taxpayers by the Andrews Government, to help it build a “virtual power plant”.

Three weeks after Premier Daniel Andrews slammed electricity retailer profits at a time electricity bills were ­increasing rapidly, he has ­provided cash to go towards the $20 million solar power battery project.

AUSTRALIA’S LARGEST SOLAR SYSTEM TO POWER MELBOURNE FACTORY

VICTORIANS COULD SAVE $890 ON POWER BILLS NEXT YEAR UNDER ANDREWS GOVERNMENT SOLAR PANEL PLAN

ENERGYAUSTRALIA LAUNCHES TRIAL TO BOOST SOLAR ENERGY INSTALLATIONS

Mr Andrews’s speech to an economic think tank last month called out two of the “big three” retailers, AGL and Energy Australia, for making a mint off the back of Victorians.

“While household electricity bills rose by 20 per cent in the last year — AGL pocketed $1 billion,” he said.

“That’s nothing though, compared to Energy Australia, whose profits tripled. You don’t have to be an economist to realise that something is broken.”

The micro grid can keep powering connected houses if the main grid goes down. Picture: AAP

Origin Energy recorded a record before-tax profit of $1.8 billion last year, with an underlying profit of $838 million.

On Wednesday, state Energy Minister Lily D’Ambrosio announced a one-off grant to the company to help it “distribute power from up to 650 customers with solar PV and batteries during peak periods”.
Ms D’Ambrosio said the project would help save those customers money and wouldn’t boost Origin profits.

The micro grid will be able to operate independently of the main grid if blackouts occur and can save money for those households connected.

Opposition energy spokesman David Southwick said it was another example that “Daniel Andrews says one thing but then does another”.

“The premier attacks energy companies for price gouging customers one week and then the next weeks he gives them a $4.5 million handout,” he said.

The government says Origin is contributing three times what it has committed to the project, and wouldn’t make money out of the project.

Energy Minister Lily D’Ambrosio said: “We make no apology for investing in technology that will drive down power prices and create Victorian jobs”.
“Only the Liberals think privatising our state’s electricity assets has helped Victorian households and businesses.”

[e-mail]