At a national meeting of energy ministers NSW, Queensland and Victoria joined forces to block attempts by South Australia to ban ‘gaming’ of the wholesale electricity market.
Studies have indicated that South Australia is the worst affected state because of small number of generation companies and heatwaves which create high demand for electricity. The costs are then ultimately passed on to consumers.
Energy Minister Tom Koutsantonis said South Australia was disappointed that there was no national outcome to prevent power companies gaming the system. Uniting Communities advocacy manager Mark Henley said there needed to be fines to prevent falsely inflated prices on the electricity market, and has called for the reform to be reviewed by Federal Government regulators.
On the 1st February, the National Energy Retail Law (Retail Law) commenced in South Australia. This law attempts to provide South Australian’s with the best offers on gas and electricity and additional consumer protection for those experiencing financial hardship. The framework will also provide clearer and more consistent information regarding contracts, fees, pricing and discounts, allowing consumers to make more informed decisions on their electricity provider.
Energy made easy has been setup for customers to compare electricity and gas companies.
For more information on the National Energy customer Framework https://www.sa.gov.au/topics/energy-and-environment
