En­ergy pol­icy fails state

Townsville Bulletin - - NATION -

THE dereg­u­la­tion of Victoria’s en­ergy re­tail mar­ket has failed con­sumers, who are stuck pay­ing hun­dreds of dol­lars more than needed, a new report has found.

The re­view of the state’s gas and elec­tric­ity mar­kets says in­creased com­pe­ti­tion and dereg­u­la­tion has led to fun­da­men­tal mar­ket fail­ure, and rec­om­mends an over­haul to make it fairer and eas­ier for cus­tomers to nav­i­gate.

“This mar­ket is fun­da­men­tally fail­ing and needs real in­ter­ven­tion and con­sumers need to be pro­tected,” re­view co- au­thor and for­mer deputy pre­mier John Th­waites said yes­ter­day.

He said Vic­to­ri­ans were, on av­er­age, pay­ing 21 per cent more for elec­tric­ity per year com­pared with the cheap­est of­fer on the mar­ket.

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