In a June 30 newsletter Deputy CEO Gary Humphreys said a freeze on motor vehicle purchases and on discretionary property spending would take effect from July 1.

Additional measures included removal of non-essential mobile phones, recruitment freezes on ‘business-as-usual’ roles and an 80 per cent reduction in planned overtime, among others.

“A significant amount of work has already been done on our transformation program to create a sustainable business for the long-term,” Mr Humphreys wrote.

On Friday, a spokeswoman confirmed that the revised redundancy policy, based on the NSW Government’s Managing Excess Employees Policy, would be put to unions this week.

“Essential Energy has also proposed to unions a two-year wage freeze for all management and award employees to fund employment of its 203 graduating apprentices, which has not been supported,” she said.

“Of the 84 Essential Energy apprentices who graduated in January 2015, full time positions have been offered to the 31 apprentices who were (our) employees prior to being internally recruited.

“(We) have also offered its 44 externally-recruited 2015 graduates a seven-month extension to their original sixmonth temporary employment contracts that took effect in January 2015.”

The spokeswoman said it would continue to consider temporary positions and future employment opportunities for first, second and third year apprentices currently in training.

But she confirmed that the apprenticeship program was on hold due to the Australian Energy Regulator’s decision.

Essential Energy is also outsourcing electricity meter reading, saying it is a more “cost efficient” option than inhouse delivery.

“(The company’s) 90 meter readers and industry unions have been consulted about the proposal,” Mr Humphreys said.

“As the new model is implemented, some meter reading employees’ roles will become redundant. Any affected employees will be covered by Essential Energy’s salary maintenance and redeployment policies, and supported to seek suitable alternative employment.

“Affected employees would be eligible for employee-initiated voluntary redundancies and also able to seek opportunities for employment with the preferred contractor in regional communities.”