26 September 2023

Energy regulator muscles up on power prices

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The Australian Energy Regulator (AER) is extending its influence over energy companies to ensure they support families and small businesses experiencing financial hardship due to the COVID-19 pandemic.

In a statement, the AER said its Statement of Expectations is to be extended by three months to remain in place until 30 June.

“The measures, originally put in place in March last year, set out strong but reasonable expectations of the support energy companies must provide to their customers impacted by the pandemic and in financial stress,” the Regulator said.

Minister for Energy and Emissions Reduction, Angus Taylor said the extension of the Statement of Expectations ensured Australians who were experiencing difficulties in paying their energy bills were protected.

“These strengthened customer protections ensure Australians who are experiencing continued financial hardship due to the COVID-19 pandemic have the support and assistance they need to get back on their feet,” Mr Taylor said.

“I urge anyone facing difficulties in paying their bills to contact their retailer as soon as possible to discuss the support that is available.”

However, he stressed customers who could pay their bills should continue to do so in order for support to be provided where it was most needed.

He said the key support measures the AER expected energy companies to provide included continuing to offer all households and small businesses in financial stress a payment plan or hardship arrangement.

He said energy companies were expected to assist customers to make existing payment plans sustainable, while waiving disconnection, re-connection and/or contract break fees, along with daily supply charges for small businesses that have ceased operating.

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