Australian Competition and Consumer Commission says energy market ‘unacceptable and unsustainable’

Consumers could save hundreds of dollars a year on their power bills if legal changes boosted competition among electricity wholesalers and retailers, the competition watchdog has said.

A report by the Australian Competition and Consumer Commission, to be released on Wednesday, calls for new powers for the Australian Energy Regulator to target “market manipulation” and a reset of the national energy market to reduce “unnecessary costs” such as network charges.

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Read More Electricity prices: ACCC calls for new powers to fix ‘market manipulation’

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