Consumer Action has provided a submission to the Senate Economics Committee inquiry on the Treasury Laws Amendment (Prohibited Energy Market Misconduct Bill) 2018. We support the Bill, which will allow for appropriate responses to misconduct or consumer harm identified as part of the Australian Competition & Consumer Commission’s ongoing electricity price monitoring inquiry.
Our submission suggests:
- The definition for “prohibited conduct in relation to retail prices” be made more flexible to allow the ACCC to take action when appropriate;
- That the full suite of remedies, including divestiture powers, be available to the ACCC upon application to court;
- That information sharing powers should allow the sharing of information with state regulators.