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Nov 21 2023

Energy Companies Support Financial Counselling Services

Energy industry members have stepped up to provide funding commitments to support financial counselling services, according to the peak body for retailers and generators, the Australian Energy Council.

The Australian Energy Council’s Chief Executive, Sarah McNamara, said “As providers of an essential service our members understand that customers may need access to financial counselling services.

“There’s no doubt that the need for such services has been amplified by recent current cost-of-living pressures that energy customers are facing.

“It’s why Australian Energy Council members have made a meaningful contribution towards funding the work of financial counsellors, as part of this broader federal initiative announced today. 

“Financial counselling plays a critical role in supporting Australian households and small businesses to manage their bills, and the energy industry understands the critical need for sustainable funding to ensure the sector can continue to effectively meet rising customer demand.”  

Earlier this year, Australian Energy Council members contributed to a $7.75 million donation from various industry bodies to help support Australia’s financial counselling services.

“Our members are acutely aware of the need to support their customers through measures like these, as well as their own internal support measures, such as hardship programs.

“In addition to committing to the voluntary industry funding model, many retailers have significantly increased the support they provide through their own programs.

“Today’s announcement represents another means by which energy companies are supporting those doing it tough due to cost-of-living pressures.”

Voluntary commitments have been made by Origin Energy, AGL Energy, EnergyAustralia, Red Energy, Alinta Energy, Simply Energy, and Shell Energy Australia.

About the Australian Energy Council

The Australian Energy Council is the peak industry body for electricity and downstream natural gas businesses operating in the competitive wholesale and retail energy markets. AEC members generate and sell energy to 10 million homes and businesses and are major investors in renewable energy generation. The AEC supports reaching net-zero by 2050 as well as a 55 per cent emissions reduction target by 2035 and is committed to delivering the energy transition for the benefit of consumers.

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