Energy companies investigated after allegedly overcharging by $400m to pay tax bills

Josh Frydenberg announces inquiry but Turnbull unsure if money can be recovered

Allegations electricity networks and gas companies are gouging customers hundreds of millions of dollars to pay their corporate tax bills will be investigated by the energy regulator.

The federal energy minister, Josh Frydenberg, has announced the Australian Energy Regulator probe amid suspicion energy companies are overcharging customers by as much as $400m a year.

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