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Quick sale for NSW poles and wires

Premier Mike Baird wants the first lease of the state’s electricity poles and wires network to be finalised by the end of the year.

It comes as the bill was passed 19-17 in the Upper House late on Wednesday night, handing over 49 per cent of the state’s electricity network to private leaseholders for 99 years.

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“Today we have that green light so all the projects that we hope to deliver, we’ll get on with,” Mr Baird told ABC Radio on Thursday.

Mr Baird said the legislation meant the government could deliver on its election infrastructure promises.

Three businesses would be leased over the next 18-24 months, he said.

“The first lease will go the market as soon as possible and the hope is that it’s completed by the end of the year and the transactions will flow from there,” Mr Baird said.

The premier said his government would now focus on building roads and a second Sydney Harbour crossing, as well as improving rail networks, schools and hospitals.

Mr Baird reiterated his promise that power prices would go down with the privatisation of the poles and wires.

“With the private sector cutting in … there will be downward pressure of prices,” he said on Thursday.

Liberal MPs cheered late on Wednesday night, while one disgruntled MP yelled “bugger” as the bill passed.

The vote hinged on the support of Christian Democratic Party leader Rev Fred Nile.

The government secured the two crucial votes it needed by supporting Mr Nile’s amendments, which included stronger protections for electricity workers.

Labor, the Greens and the Shooters and Fishers Party voted against the bill.

“When the ports were privatised, when the electricity generators and the electricity retailers were privatised, workers in those areas received additional payments,” Opposition energy spokesman Adam Searle told 2GB on Thursday.

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