Competition is failing in energy retail and it’s hurting households: Gerard Brody
In his address to the National Press Club last week, prime minister Malcolm Turnbull called out that families across the nation need not just reliable but affordable power. For lower income earners who spend up to five times as much of their disposable income on energy than higher income earners, this is very welcome.
However, the federal government’s focus on energy generation – the cost of coal versus renewable energy – ignores the reality that it is the failure of retail competition that is hitting households’ hip pocket. If governments want to make energy more affordable, making competition work for the community rather than the industry would be the sensible first step.