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Update on Prime Minister meeting electricity retailers in Canberra

Today (Wednesday 9 August) Prime Minister Malcolm Turnbull, Treasurer Scott Morrison and Energy Minister Josh Frydenberg met with Australia’s largest energy retailers and Matthew Warren of the Australian Energy Council in Canberra to discuss options that will mitigate the rising cost of energy for Australian consumers.

The meeting appears to have been successful with energy retailers agreeing to contact customers on a discount rate and provide details of alternative offers prior to the expiry of the agreement. The correspondence is to be in plain English and provide facts that can be understood by normal customers. In addition to this retailers will need to direct customers to the price comparison website managed by the Australian Energy Regulator (AER).

As an indication of how seriously Mr Turnbull is taking this he has requested that the retailers inform the Federal Government and the energy market regulators of the number of customers that are on the highest tariffs after they come off discounted plans.

It was agreed that a follow up meeting would occur later this month which again, Edge will be monitoring closely.