Displaying items by tag: electricity retailers

The Federal Court has ordered EnergyAustralia to pay $14 million in penalties for making false, misleading or deceptive statements to hundreds of thousands of consumers about electricity prices, and failing to provide mandatory information required by the Electricity Retail Code (the Code).

Smaller electricity retailers are finding it harder to manage their exposure to high and volatile wholesale electricity prices, and declining competition in the retail market could further increase energy prices for consumers and businesses, the ACCC warns in its latest Electriity Market Inquiry Report.

The current period of structural upheaval in Australia’s energy sector provides an opportunity for more affordable energy- and savings for consumers - and must not be wasted, according to Australia’s competition watchdog chief Rod Sims.

Australia’s electricity retailers and generators are prohibited from keeping consumer and small business electricity prices unnecessarily high when costs fall, under new guidelines issued by the competition regulator, the ACCC, aimed at protecting consumers and businesses from excessive electricity prices.

Australia’s competition watchdog the ACCC has released draft guidelines on how electricity retailers and generators should comply with three new laws designed to reduce the price of electricity for consumers.