Turnover rises for energy providers as temperatures drop

The Electricity, gas, water and waste services industry reported the largest rise in business turnover of the 13 selected industries in June (+12.0 per cent), according to figures released today by the Australian Bureau of Statistics (ABS).

Ben Dorber, ABS head of business indicators, said: “The cold start to winter coupled with higher energy prices has driven a 12.0 per cent rise in turnover for the Electricity, gas, water and waste services industry.

“The June rise follows a 13.1 per cent increase in May, however turnover is still 4.3 per cent lower than the same time last year when wholesale energy prices were higher.”

Information, media and telecommunication services recorded the second highest rise in turnover (+4.6 per cent). Turnover also rose for businesses in the Other services industry (+3.5 per cent) which includes personal care services and selected repair and maintenance activities.

The Accommodation and food services industry recorded the largest fall in turnover (-2.6 per cent), driven by weaker demand for catering and takeaway food services. Professional, scientific and technical services (-2.5 per cent) and Administrative and support services (-2.1 per cent) recorded the next largest falls in turnover.

Compared to June 2022, 10 of the 13 selected industries recorded rises. Increases were led by Construction (+18.8 per cent) and Other services (+16.9 per cent), while Mining had the largest fall (-18.1 per cent) reflecting lower commodity prices.

The ABS would like to thank the businesses whose data helped produce these statistics.