AGL's use of 'huge' market clout costs consumers $3b a year: report

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AGL has been accused of using its power in the electricity market to lift its own wholesale profit 60 per cent annually, a move estimated to have cost consumers about $3 billion a year | p_hannam

"It’s irritating and it has caused energy consumers to pay a lot more for their power, but it’s not illegal," he said, noting the ACCC had gone to court to stop the sale of Liddell and Bayswater to AGL. "They’ve taken advantage of their market power."

"The AER haven't been the most pro-active regulator," Mr McConnell said. "Why didn't they look at AGL more closely?"Kerry Tanner, an EnergyAustralia customer, said she had seen her quarterly power bills double in the last 18 months or so, to almost $2400.Federal Energy Minister Angus Taylor The family didn't “have a second freezer or fridge” and “barely use the air-con because we can’t afford it”, Ms Tanner said.

 

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p_hannam Nuclear is the cheapest clean after all. All the wind & solar BS just enables these guys to more easily game the system. Mandate nuclear now !

jjp666 p_hannam Direct consequence of neoliberal ideology. Privatisation, deregulation, red tape reduction and smaller government. All translates to unfettered free market, unconstrained by adequate regulation and compliance resources

p_hannam The average business has seen electricity costs double in recent years. We are all paying for this, and not only through our electricity bills. Australians are getting ripped off and the government is powerless to stop it as they sold off our assets ripoff sydney sydneycity

p_hannam What a surprise. Private companies want to make a profit. Who'd a thunk it?

p_hannam Hi Peter. When did you file this piece?

p_hannam You can thank the NSW Liberal & Nationals privatisation for this....

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