PM puts heat on bosses
PRIME Minister Malcolm Turnbull will today demand energy bosses inform more than a million families that they are paying up to $800 over-the-odds on their bills.
Companies will be told they must offer advice on the best deals available to all their customers.
The PM is holding emergency talks with the energy bosses as he moves to shame retailers into reducing power bills for Australian households.
It is the second time the Prime Minister has met retailers in three weeks.
The Australian Competition and Consumer Commission has found there is still up to one million households on “standing offers” who should be on a better deal than they are currently on.
Mr Turnbull is expected to ask retailers to write to identified customers who are paying too much for power and advise them of the better deals they could be on.
Retailers will also be expected to provide an update of what they have achieved since the previous meeting this month where they were asked to contact customers on ex- pired discount offers.
St Vincent de Paul last month found a typical family could save up to $830 a year by changing from “the worst standing offer, to the best market offer”.
The Government expects companies — including Origin Energy, AGL and Simply Energy — to outline how they will help more families on to a better deal, how to make it easier to switch and other measures to help push down power prices.
“My goal is to ensure that no Australian family is paying more for electricity than they need to,” Mr Turnbull said.
“In other words, they they’re not paying on a plan or an offer that is inappropriate for them.”
It is understood the Government will also canvass other options that retailers can take to reduce power prices for households and small businesses.
But Australian Energy Council chief executive Matthew Warren this week warned that the current spike in electricity bills was the result of a shortage of supply in the generation.
“If you want to fix power bills, you have to fix that problem,” he said.