The Australian Energy Regulator chairwoman Clare Savage said the draft default market offer allowed retailers to recoup costs as well as offer good discounts to consumers.
Australian Energy Regulator chairwoman Clare Savage said government intervention would mitigate rising power prices this year.When the default market offer was released in May last year, retailers in the United Kingdom and Australia were going to the wall as they struggled with surging wholesale costs.
– had struck the appropriate balance between stopping customers from being hit with unjustifiable price increases and allowing retailers to recoup costs. Australian Energy Council chief executive Sarah McNamara, who represents some energy retailers, said the draft default market offer and Victorian default offer reflected “extremely tough market conditions”.
Retailers will have an opportunity to put submissions to the AER, including asking for a higher default offer, before the final determination is handed down in late May.
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