Western Power plans to reduce spending by nearly $1 billion in the next five years compared to the five years just gone, according to a proposal by the state-owned network operator to the state’s economic regulator.

The company submitted proposed financials to the Economic Regulation Authority as part of a process to determine the level of capital investment, revenue and spending it is allowed to undertake in what is known as an access arrangement.

The upcoming arrangement, lasting from 2018 to 2022, will be the fourth period where financials are determined by the process, with the ERA having the ability to order further tightening of the screws if it deems Western Power is pushing up prices by not being efficient enough.

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