Energy Council Chief concedes consumers may be in for prologed energy price pain
Australian Energy Council Chief Executive Sarah McNamara has conceded regulating energy prices “may not work”.
Over 32,000 complaints were made to the Fair Work Ombudsmen over the last 12 months, with one in three customers worried about paying their bills.
Ms McNamara said regulating prices was “quite challenging” but confirmed the head body would continue to work towards that goal.
“What would happen is the energy regulators would be asked to work with all of the energy companies on setting that default price,” she said.
“(That price) acts as a ceiling in the market and they’ll report back to the government on April 30 and after that, the government will have to implement that default price by legislation.
She said it was still “too hard to say” whether energy prices would be reduced next year.
“We’re seeing volatility in the wholesale market since the demise of the national energy guarantee,” she said.
“It’s just too hard to say, it’s a very difficult time in the industry.”
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