August Retail Pricing Update
Retail prices have dominated the headlines over the past week, with ongoing discussion of some retailers posting record profits and resultant calls for a Royal Commission into Energy. At the same time there have been some significant changes relating to energy retail pricing which have either been announced or recently came into force. In light of this we provide a quick update on the National Energy Guarantee (NEG), electricity default prices and changes to the display of pricing information. By Dr Drew Donnelly, Compliance Quarter. 1. Emissions obligation in the NEG – gone for now Perhaps the most significant of the Commonwealth Government’s policies intended to reduce retail electricity prices was the National Energy Guarantee (NEG). On 20 August then Prime Minister, Malcolm Turnbull, announced that the emissions obligation…