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Jason Waters says the energy sector is facing some significant challenges. Photo: Attila Csaszar

Synergy loss as gas, power sales fall

State-owned power generator and retailer Synergy has recorded a loss of $12.6 million for the 2017 financial year on the back of lower sales revenue and a large impairment due to the early closure of its generation capacity.

The company's operating subsidy was reduced by $27 million to $280 million, down 45 per cent on the 2014 financial year.

Revenue fell from around $3.1 billion to be $3 billion, while the underlying loss doubled to $27 million, according to the company’s annual report tabled in parliament today.

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Comments

South Perth
What happened to the power utility that I already paid for, along with my parents and their parents before that? Now I par rent on my own asset that has been corporatised without my consent. The privatisation/corporatisation concept is broken or was a lie in the first place? Give me back my power utility.

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Total revenue

1st-Gold Corporation$9.01bn
2nd-GESB$3.38bn
3rd-Synergy$3.13bn
4th-Water Corporation$2.72bn
5th-Western Power$1.84bn
32 state government businesses ranked by total revenue - this year

Number of Employees

State Government Businesses

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