POWER generator EnergyAustralia - formerly TRUenergy - has suffered a 10 per cent slide in power sales as rising electricity prices have prompted lower use and as more home owners install solar panels.

The slide in demand resulted in a steep fall in earnings in Australia, down 42.1 per cent to $HK1.68 billion ($210 million) in 2012. As a result, it plans to refrain from new investment in Australia.

Yallourn is back at full power. Credit:Rebecca Hallas

''During 2012 we witnessed a decline of electricity usage across our customer base,'' the company's Hong Kong parent, China Light and Power, said.

''In our predominantly Victorian customer base we saw a decline of around 10 per cent in average mass market electricity consumption from 6.5 megawatt hours in 2011 to 5.8 MWhs in 2012.''