Call me naive.. but I see this as a good buying opportunity.   ...

Call me naive.. but I see this as a good buying opportunity.    Forget all the analysis of PEs etc and look at the business they are in.
Energy..... More people, hotter summer, possibly colder winter.... larger open plan homes requiring more heating and cooling,
Basically, larger energy companies are virtually an oligopoly, with high cost to set up and a reasonably wide moat. Gas being exported overseas at the expense of Aussies and high demands on electricity in peak times.
Sure, they may have stuffed up in hedging their bets with the forward price of electricity, but you'd have to ask if they are going to get caught next year or if the profit will be higher because they may have learned from this years hedging error. 5.5% div yld 80 % franked ?  Just under 10% return pa  over the last 3 years.  I just think you could do worse fas a longer term holding ?