Watchdog issues guidance on laws to lower power prices

23 March 2020

Australia’s competition watchdog has released draft guidelines for electricity retailers and generators on how to comply with new legislation that aims to stop price gouging.

Three new laws are due to come into force on 10 June, introduced by the Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Act 2019, which restrict electricity retailers from keeping prices for consumers and small businesses “unnecessarily high”.

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