Governments Need to Adopt ACCC Recommendations on Electricity ‘Gouging’ Without Delay: CCIQ
The Chamber of Commerce and Industry Queensland (CCIQ) has welcomed the Australian Competition and Consumer Commission’s (ACCC) report into the retail energy sector and supports an overhaul of a system that has gouged Queensland businesses for the last decade.
The ACCC report found widespread abuse of market power by some of the country’s largest operators and that the bills being paid by the small business and residential sector is simply unsustainable.
CCIQ General Manager of Advocacy Kate Whittle said the need to bring down some of the world’s highest power prices can’t come soon enough as state owned operators in Queensland in particular are enjoying large profits on the back of struggling small businesses.
“There is simply no other way to describe the power of government owned operators in this space and to call out the market power abuses as nothing short of galling.
“In Queensland the state government enjoyed a surplus on the back of the small to medium sized enterprises whose margins have been crushed as Australia’s electricity prices became among the most expensive in the world,” Ms Whittle said.
“The state government in particular can no longer sit on its hands on this issue.
“Every survey CCIQ conducts and pain points we discuss coalesces around one central issue; electricity prices.”