Andrews will put us out of business, power companies say

Small electricity retailers will go out of business in Victoria, and savvy customers who have found the cheapest deals will be forced to pay more, if the Andrews government follows through on its promised cheaper deal, according to an industry report.John Shakespeare

Dr Emerson said in his report on the Victorian default offer that the government’s intervention in the electricity market would have “adverse consequences” for competition and price-sensitive customers, including customers who were economically vulnerable.“By eliminating the ability of electricity retailers to achieve a basic level of profit, the VDO will drive some retailers out of the market and prevent others from entering it in the future,” Dr Emerson wrote.

Former Gillard government minister Craig Emerson has advised the Andrews government to drop it electricity default offer.Dr Emerson, a former minister for trade and small business who now works as an economic consultant, recommended Victoria abandon its plan and instead adopt the Morrison government’s default offer, which is due to kick in on July 1.

Who would listen to this economics nada from yesteryear😆😅

Neither the federal nor the state default program locks in any real savings for consumers. Daily connection charges should be capped to 60 cents and GST should be abolished for ppl n fixed incomes. A review of net metering for solar owners is mandatory to stop the energy theft.

It’s a promised plan not promised cheaper prices. Nothing to see here move along please. 👍

Put out of business companies that generate no power but just bill you with a margin added! So what’s wrong with that? The company that generates power must be able to sell it cheaper then!

Just who would read this X Rudd desperado's read😂

Victoria is about to become another Sth Australia factory closures high unemployment

LOL. An industry which has been existed to add zero value to the consumer, is complaining that forcing a reasonable price for utilities will put them out of business. Perhaps they are in the wrong business.

Surprise - power companies on the verge of either collapse or massive fight back. Government must either take back full control of power supply or let private enterprise continue to charge market rate for power

Venezuala here we come!

Not one tweet on Venezuela. I know you lot are lefttards but you're really defending socialism's to its last breath. Disgraceful

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Water buyback criticism 'a joke', says company at centre of scandalThe head of a company embroiled in a maligned $79 million water purchase has defended the deal and described questions over the conduct of government MPs as “a joke”. nicole_hasham In a statement, the office would not confirm the advice it provided the department and said it 'will not be releasing any information on this matter which is not already publicly available' middleFingerSalute nicole_hasham Of course they'd say that. My guess now is corrupt departmental officials are involved. Follow the drip of money. watergate nicole_hasham So, what we know is that, at the request of the QLD Labor govt and with full knowledge of the department, the Commonwealth govt made a commercial purchase of water entitlements from an agricultural company. Anything else is a fishing expedition. 🐟
Source: smh - 🏆 6. / 80 Read more »