Electricity

Electricity retailers under pressure as contract markets tighten and prices rise further

Smaller electricity retailers are finding it harder to manage their exposure to high and volatile wholesale electricity prices, and declining competition in the retail market could further increase energy prices for consumers and businesses, the ACCC warns in its latest Electricity Market Inquiry Report.

Inquiry into the National Electricity Market - November 2022 report

This is the ACCC's eighth report as part of its inquiry into the prices, profits and margins in the supply of electricity in the National Electricity Market (NEM).

Inquiry into the National Electricity Market - May 2022 report

This is the ACCC's seventh report as part of its inquiry into the prices, profits and margins in the supply of electricity in the National Electricity Market (NEM).

CovaU pays penalties for allegedly failing to publish comparison pricing on electricity plans

Energy retailer CovaU Pty Ltd has paid $33,300 in penalties after the ACCC issued it with three infringement notices for alleged contraventions of the Electricity Retail Code.

The ACCC has reasonable grounds to believe that CovaU contravened the requirements of the Code by advertising the prices of three residential electricity plans on its website without stating a percentage difference to the comparison price set by the government, between 27 June and 19 July 2021.

Inquiry into the National Electricity Market - November 2021 report

This is the ACCC's sixth report as part of its inquiry into the prices, profits and margins in the supply of electricity in the National Electricity Market.

Sumo Power to pay $1.2 million for misleading electricity plans

The Federal Court has declared by consent that Sumo Power Pty Ltd (Sumo) made false or misleading representations in selling electricity plans to Victorian consumers and ordered it to pay $1.2 million in penalties, and to pay consumer redress to affected consumers.

Sumo admitted that between June and December 2018, it had misled consumers about how much they would pay for their electricity if they switched to Sumo, in breach of the Australian Consumer Law.