Ausgrid spent $75m on an unnecessary Sydney CBD property

‘Anyone passing Bligh Street or O’Connell streets in the heart of the Sydney CBD can see an example of how energy users are arguably being made to pay too much for power networks.

‘A huge vacant lot running between the two streets was purchased by Ausgrid (then called Energy Australia) back in 2009 for $75 million to house an electricity substation which the company told regulators was needed to prevent blackouts.

‘In fact, eight years later, the substation has not been built and won’t be until at least 2021 if at all. Ausgrid realised it didn’t really need a substation in that location.’