Electricity network providers raked in $2bn from customers in “superprofits” in just one year, or 2.5 times the level needed to compensate shareholders for risk, the Institute for Energy Economics and Financial Analysis (Ieefa) claims in a new report.
Building on an assessment published a year ago, Ieefa found network firms had extracted about $11.1bn since 2014, including $2bn in the 2022 fiscal year alone. That sum was in addition to permitted “normal” profits of $16bn over those years.
