Envestra Limited (ASX:ENV) has responded to Australian Energy Regulator claims that it engages in price gouging.
The natural gas distribution company’s CEO, Ian Little, said recent significant price increases for consumers has made the company ‘far from comfortable’, and that the rises were because of increasing investment requirements as well as capital markets costs.
He told the Australian that the company’s shareholders are characterised by those looking for long-term, reliable returns, consistent with a relatively low-risk industry sector.
In the second half of last year, Envestra (ASX:ENV) reported a profit of $35 millon.
