Reporting on the release of the Australian Competition and Consumer Commission's report into the energy sector, the InDaily news website said today that, "[h]ouseholds could save more than $400 a year on power bills under a major shake-up of Australia’s “broken” electricity market, proposed by the consumer watchdog".
InDaily’s Matt Coughlan reported that:
"The ACCC’s wide-ranging investigation into retail energy found the current situation is unacceptable and unsustainable.
The consumer watchdog wants the Australian Energy Regulator to be given more powers to target market manipulation.
Customers should be able to compare discounts from a default or benchmark rate set by the regulator."
Read Matt Coughlan’s full report here.