Energy Consumers Australia appreciates the opportunity to comment on the National Electricity Law amendments to establish a mechanism to manage reliability and emissions in a transforming market.
Guided by our mandate and what consumers are telling us, our focus through this process has been to contribute to the development of a mechanism to improve affordability. To reduce the cost of electricity and to take the pressure of households and small businesses living with electricity prices that the Australian Competition and Consumer Commission (ACCC) found have increased by (on average) 60 per cent in the last ten years, far outpacing CPI and wages growth.
We support the mechanism outlined in the Final Detailed Design paper because it is market based and because the analysis indicated that the greater certainty and competition in the wholesale market would increase supply and as a result, reduce electricity prices by $150 per year over the next decade for the average household. Noting the Commonwealths position on the emissions target, we are urging the Energy Council and all stakeholders to focus on this price outcome and work together to find a way forward.
The full submission can be read here.