Unprecedented wholesale prices: what should we do about it?

Unprecedented wholesale prices: what should we do about it?

AU Energy Compliance
This week, ReAmped Energy announced that it was no longer able to offer competitive electricity prices. It wants its customers to leave to find a better deal. In QLD, LPE and Discover Energy have sent similar requests to their customer base. This followed the exit of Weston Energy and Pooled Energy. The response to Reamped's announcement, from its customers, was overwhelmingly supportive. By now, consumers can see what is happening in the market and the importance of ensuring that they are on the best deal possible. There is no doubt that this energy situation (or indeed crisis) has some way to go before we reach some form of normality. There is light at the end of the tunnel, but we are not sure if it is a train or sunlight.…
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The largest penalty ever imposed under Australia’s National Energy Retail Law.

The largest penalty ever imposed under Australia’s National Energy Retail Law.

AU Energy Compliance
On 1 June 2022, the Federal Court ordered EnergyAustralia to pay a pecuniary penalty of $12m. They were also ordered to pay $300,000 towards the AER’s legal costs. The penalty is the largest ever imposed under Australia's National Energy Retail Law. The Federal Court found a total of 14,637 breaches. The breaches were comprised of failing to: register customers that required life support equipment when advised by the customer or notified by the distributor;notify the distributor when advised first by the customer;provide the required information to life support customers within the specified timeframes; andestablish policies, systems and procedures for registering and de-registering a premises requiring life support equipment. EnergyAustralia admitted to not registering more than 4,000 customers who were using life support equipment between 2018 and 2020. It also failed to…
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