Dec 05 2018

Media Statement From Chief Executive

Statement from Sarah McNamara, AEC chief executive

We are disappointed the Government has introduced this Bill into the Parliament, not only because it represents unprecedented market intervention, but also because of the secretive way the Bill has been developed without any reasonable consultation or consideration of its impacts.

This Bill, if passed, will have far-reaching consequences beyond the energy industry. And yet, despite these ramifications and without the support of any industry body, consumer group or even its own regulator, the Government is pressing on regardless.

The ACCC concluded there was no need for these intrusive powers in the already heavily regulated energy market.  It is disappointing that we are not focusing on implementing the positive recommendations in the ACCC Report which would actually improve market transparency and price outcomes for customers.

Instead the ACCC’s recommendations have been pushed aside in favour of heavy-handed and poorly drafted market interventions.

There remain constitutional issues with the Bill and it is devoid of detail, uncertain and vague to the extent that market participants could not be confident about how to comply with it.

Given the Government says it wants to lower prices and encourage investment it is hard to understand why this Bill, that would achieve the precise opposite, is necessary.

The Bill if passed would only raise risk and costs, leading to higher prices for Australian homes and businesses. 

We urge the Government to reconsider the Bill and instead return to negotiations with industry to deliver better outcomes for customers.

Related News

News

Australian Energy Council congratulates Daniel Westerman

The Australian Energy Council congratulates Daniel Westerman on his appointment as CEO and Managing Director of the Australian Energy Market Operator.

Feb 10 2021
News

New data shows solar shines despite lockdowns

Rooftop solar installation grew by 18 per cent nationally over the last year, according to the Australian Energy Council's latest Solar Report, which showed record growth in solar PV capacity and installations during 2020.

Feb 04 2021
News

Australian Energy Council congratulates Chris Bowen and thanks Mark Butler

The Australian Energy Council congratulates the Hon Chris Bowen MP on his appointment as Shadow Minister for Climate Change and Energy and thanks the Hon Mark Butler MP for his extensive work in the portfolio.

Jan 29 2021
GET IN TOUCH
Do you have a question or comment for AEC?

Send an email with your question or comment, and include your name and a short message and we'll get back to you shortly.

Call Us
+61 (3) 9205 3100