Australia Government Seeking To Adopt "Price Safety Net" For Retail Electric Offers
October 24,2018
Australia's Morrison Government recently announced that the Australian Energy Regulator (AER) will start work on a "price safety net" for retail electricity
Under the mechanism, a maximum default offer price and reference bill will be developed, aimed at those who do not shop when their prior electricity plans expire, and who pay what has been dubbed a "loyalty tax".
The government also announced efforts aimed at, "stopping price gouging by the big energy companies."
"This includes banning sneaky late payment penalties and making energy retailers pass on savings in wholesale prices to customers," the government said