Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

On that side of the House, Labor is on the side of energy companies. On this side of the House, we're on the side of consumers. Let's face it: the energy market has not been serving consumers well. This is what the ACCC has said about the energy companies—that retailers have:

… played a major role in poor outcomes for consumers.

That is what the ACCC said. In the wholesale market, the ACCC has found a lack of competition has resulted in higher prices. When it comes to the retail market, they say that the energy companies have been using deliberately confusing discounting strategies, using excessively high benchmarks and complex offer structures.

The Liberal and National government is addressing these problems with our plans for a new default market offer, with our plans to underwrite new generation investment capacity, with our plans for a reliability guarantee, and with our plans for new powers to respond to misconduct in the energy sector. We are on the side of Australian families and businesses.

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