Ann: Appendix 4C - quarterly, page-29

Hi Froggy, I am broadly in agreement with you logic EXCEPT for the expenses line. My model has expenses rising to a greater extent than yours. As I posted previously, they pay for the energy in advance but get reimbursed in arrears. So they will be paying out this quarter for revenue realised in the following quarter. As GW keep rising they are always behind the curve on this.

Ironically the P&L will start to look very good at precisely the point they stop growing the customer base.

Interestingly (I am in NSW) my electricity account is with DODO and they make me pay a monthly instalment in advance and then invoice me an adjustment every quarter when the meter is read. Sometimes I get a rebate, sometimes I pay them a bit more. I can see now why they do it this way. LPE could learn a bit from them.