The figure is an estimation only as Iannello refused to reveal the extent of the losses. Western Power started the Bright business to supply pay TV and broadband services to the business and residential sectors, aiming to compete directly with Telstra and Optus.
This latest controversy to embroil Western Power comes only days after it came under fire for outlaying $1.2 million on an advertising campaign aimed at reinforcing its public perception after a number of years of negative publicity.
The Bright saga has raised questions as to why, when there was no money for maintenance of its pole top transformers, to pick just one item needing urgent attention, it kept channelling money into an unrelated industry.
Its aims to link broadband cable to existing underground and overhead power lines has resulted in access to around 1000 households in Perth, with less than 300 taking up the service since its inception in 1999.
Bright’s assets would be mothballed until a buyer could be found, but Iannello was reported as agreeing any sales price would not reach its $23 million book price.
