Electricity retailers will work with the Victorian Government on the detail of the nine recommendations from the Thwaites Review it has accepted and welcomed the deferral of the proposals to introduce a basic service offer and abolish standing offers.
The Australian Energy Council’s General Manager Corporate Affairs, Sarah McNamara, said the industry looked forward to the opportunity to consult with the government on the Thwaites report recommendations and would use the opportunity to highlight that re-regulation of the retail electricity market would only make consumers worse off.
“The remaining two recommendations were the most contentious and radical recommendations of the Thwaites Review which would, if introduced, kill competition and push out smaller retailers.
“According to the Australian Competition and Consumer Commission moves to re-regulate electricity prices would see many households paying more and could lead to less innovation for consumers.
“Thorough consideration and consultation on a reference price is also essential to avoid significant and unintended consequences,” Ms McNamara said.
“The nine accepted recommendations have many positive aspects, particularly around delivering clearer messaging to customers on deals available and supporting vulnerable customers.
“The industry is committed to implementing measures which make it easier for consumers to engage with the retail market and find great deals. Much of this work is already underway.”
About the Australian Energy Council
The Council represents 21 major electricity and downstream natural gas businesses operating in competitive wholesale and retail energy markets. These businesses collectively generate the overwhelming majority of electricity in Australia and sell gas and electricity to over 10 million homes and businesses.
Media contact Carl Kitchen 0401 691 342
Australian retail household electricity prices in the National Electricity Market are the lowest they have been for eight years and are the 10th lowest of the 38 OECD countries, according to analysis undertaken by the Australian Energy Council.
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