Tuesday, 21 August 2018
Regulation of Energy Retailers
That the Senate:
(a) acknowledges that deregulating energy retailing has enriched the big energy companies and has completely failed to benefit consumers;
(b) notes that energy retailing is an inelastic market and that consumers do not actively exercise choice – the super profits reported last week by Origin, AGL and Energy Australia reflect this poorly functioning market;
(c) supports fully re-regulating electricity prices as first proposed by The Greens in August 2017; and
(d) calls on the Federal Government to ensure that the legislation introduced into Parliament regulating energy retailers is designed to benefit households that exercise no choice, in recognition that making no choice about electricity tariffs is an acceptable option for households to make.