New data from the Australian Competition and Consumer Commission shows millions of consumers are paying more on power bills than they should.
The heating is on, there's washing to be done, and there are children to feed and entertain.So when their retailer AGL said their electricity bills were about to almost double, it was a huge shock.Elijah, Siena and Jesse Turner are entertained on devices that use power.On that same day, he read AGL was expecting to double its profits, so he took to social media to vent his frustrations.
"There are millions of customers who are paying at or above the government-set safety net price," ACCC commissioner Anna Brakey said. "I think it's evidence that retailers are struggling to maintain really cheap market deals everywhere all the time at the moment," she said.Former energy regulator speaks out
The former chair of the Victorian Essential Services Commission called out regulators for not acting in the interests of consumers. The Victorian Essential Services Commission said it compulsorily acquired operating cost data information from retailers. For example, default offers also allow retailers to make a profit margin of 5 per cent in Victoria and 9 per cent in New South Wales, South-East Queensland and South Australia.
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