ACCC blueprint to reduce energy prices
The Australian Competition and Consumer Commission (ACCC) has released its final report in relation to Retail Electricity Pricing; Restoring electricity affordability and Australia's competitive advantage. The main thrust of the ACCC Report is how to reduce energy prices for Australian consumers. The ACCC has made 56 recommendations in the Report which are included in the Executive Summary. By Anne Wardell, Regulatory Specialist, Compliance Quarter. Some of the more interesting recommendations include: Abolishing the current retail ‘standing’ offers (which are not the same between retailers), and replacing them with a new ‘default’ offer consistent across all retailers, set at a price determined by the Australian Energy Regulator (AER). Requiring retailers to reference any discounts to the new ‘default’ offer pricing determined by the AER, making it easier for consumers to genuinely compare…



