Watchdog probe into Queensland electricity price gouging

THE Australian Competition and Consumer Commission will investigate allegations of price gouging by state-owned electricity generators.

Opposition treasury spokesman Scott Emerson wrote to the nation's competition watchdog this week, saying there was significant concern that government-owned electricity generators CS Energy and Stanwell had been using their market power to increase wholesale prices.

The LNP received a response yesterday from the ACCC chairman Rod Sims that read: "We can assure you that the ACCC will carefully consider the issues raised in your letter, along with all other material available to the ACCC. This includes documents and data provided by electricity suppliers and submissions to the ACCC.

"The issues you raised are highly relevant to the retail electricity supply and prices inquiry currently being held by the ACCC. The inquiry seeks to understand what is driving large rises in electricity prices and what can be done to mitigate these factors."

Scott Emerson wrote to the ACCC about the issue.
Scott Emerson wrote to the ACCC about the issue. AAP Image - Darren England

Mr Emerson said it was clear that the watchdog had acknowledged North Queenslanders were paying too much for their electricity.

"They will investigate this price gouging that's forcing North Queenslanders to pay too much for their power," he said. "When I go to North Queensland people tell me they're paying too much for electricity.

"All I'm hearing is that Labor are saying 'you've never had it so good'.

"Tell that to the people who are paying too much for power."

The ACCC must submit its draft report to the inquiry to Federal Treasurer Scott Morrison by September 27 this year and the final report by June 30, 2018.

News Corp Australia


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