Competition watchdog offers governments a reform blueprint. Here’s our breakdown of its proposals
According to the competition watchdog, the national energy market is broken and needs drastic change – from consumer rebates for network costs to simpler discounts for customers, new powers to stop “market manipulation” and even government support for new generation.
After an inquiry spanning more than 12 months, in a report released on Wednesday, the Australian Competition and Consumer Commission made 56 recommendations. The watchdog said its suite of reforms could save average residential customers up to $419 in south-east Queensland and $409 in New South Wales by 2020.