Malcolm Turnbull orders national review of electricity prices
Author: The Sydney Morning Herald Date Posted:27 March 2017
The Turnbull government is giving the consumer watchdog sweeping powers to conduct a major review of retail electricity prices.
Prime Minister Malcolm Turnbull has directed the Australian Competition and Consumer Commission to conduct an inquiry into electricity retailer behaviour as well as contracts offered to residential and business customers.
"Competition in retail electricity markets should mean lower prices for residential and business consumers. However, retail electricity markets don't appear to be operating as effectively as they could," Mr Turnbull said.
"A better deal in electricity is vital to keeping the lights on, delivering cheaper prices to families and businesses and sustaining jobs, particularly the thousands of jobs in our energy intensive industries."
