Re-regulation of prices needed to fix power mess: Greens
Greens climate change and energy spokesperson Adam Bandt MP today said that the latest AEMC report provides further evidence that the privatisation of electricity has failed, and re-regulating power prices is the only way to stop big power companies from making mega-profits out of providing what should be an essential service.
“Power companies have taken an essential service and turned it into a stockmarket. As a result, the public is getting fleeced,” said Mr Bandt.
“It’s time to admit that privatisation has failed. The federal government needs to stand up to these big companies that are making a mint and start re-regulating electricity prices across the country.
“We don’t need more information, we need more regulation.
“Companies want power bills to be confusing and complicated, so they can exploit the confusion and the loyalty of customers to jack up prices to fatten up their bottom line.
“While these big companies make huge profits, thousands of people are getting disconnected from the electricity grid because they can’t keep up with some of the highest electricity prices in the world.
“To stop power bills from spiralling out of control, we urgently need to re-regulate electricity prices.”
Media contact: Gideon Reisner, 0429 109 054