The NSW Coalition has sold 50.4% of the publicly-owned power distribution network Ausgrid to a consortium of AustralianSuper and IFM Investors. It is spinning it as a "win" for the mums and dads. The reality is otherwise. Without public ownership of energy, we have very little chance of moving swiftly to more sustainable options, as the climate science demands.
Ausgrid
A leaked management briefing from New South Wales government-owned electricity network business Ausgrid has revealed a plan to slash jobs, close local depots, axe apprenticeships, sell off state-of-the-art training facilities and outsource call centres all in the lead-up to the privatisation of the company.
The state government is committed to selling off 50.4% of Ausgrid on a 99-year lease in 2016.