Origin Energy secured up to $450 million in potential taxpayer-backed support (via the NSW govt's underwriting deal to extend Eraring coal plant operations) — while raking in massive profits (around $1.5 billion underlying in recent years, often rounded up in commentary).
This is classic fallout from the privatisation of NSW's energy assets: sell off public infrastructure like Eraring in 2013 for a quick buck, then years later, when reliability's at risk during the energy transition, taxpayers end up backstopping a private giant's coal ops.
Local workers face job uncertainty in the shift from coal, communities lose out, and everyday Aussies foot the bill through subsidies or higher bills — all while shareholders pocket the gains.
Privatisation leaves workers & taxpayers holding the bag. Time to rethink handing essential services to profit-driven corporates.
#Energy #NSWPolitics #PrivatisationFail
https://www.youtube.com/watch?v=Nnj8z3NLoPA