Govt blitz on hidden power gouges
Author: The Australian Date Posted:9 August 2017
Power companies will be forced to overhaul their pricing plans as the Turnbull government drafts new rules to give households more scope to cut their electricity bills, amid fears customers are being charged $1500 more than needed on some contracts.
Malcolm Turnbull will put company chiefs on notice today to prepare for tougher electricity market rules, as government officials canvass changes that would require retailers to reveal more of their price changes to customers.
Writing in The Australian today, Energy Minister Josh Frydenberg warns of “ridiculous” situations where “loyal customers are left languishing” because companies have no obligation to let them know when their prices rise.
“As the rules currently stand, retailers are not obliged to inform customers when their discount period ends if their contract is ongoing,” Mr Frydenberg writes.
“This should change, as customers deserve to know not only when the bill is changing, but by how much.”
