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SME regulator pushes authorities to get behind new price saving initiative

Tim Neary
13 July 2018 1 minute readShare
price saving, retail electricity pricing report

The Australian Small Business and Family Enterprise Ombudsman has welcomed the recently released ACCC’s retail electricity pricing report, and urged state, territory and Australian governments to act on the recommendations, especially those that impact small businesses.

Ombudsman Kate Carnell, called an annual saving of 24 per cent to 26 per cent on electricity “significant” for any small business.

“It might literally save a business from closing or having to ‘let go’ staff,” said Ms Carnell.

“There are a number of realistic and achievable recommendations in the report that would support Australian small businesses.

“Offering a standard ‘default’ price, determined by the Australian Energy Regulator, would allow transparency for small businesses to compare deals and choose the best plan for their circumstances.”

Ms Carnell said that there are real benefits to be achieved.

“At the moment, over 20 per cent of small businesses are on high ‘standing’ offers, so moving to standard ‘default’ would save them up to $2,250 each year.

“We welcome the recommendation that consumer benefits are expanded to include small businesses, for example, streamlined price reporting.

“It is also vital that small businesses get the right tailored information and advice for their energy needs, and adequate funding for an effective awareness raising campaign is essential.”

Ms Carnell also said that change is “urgently” needed, and reiterated her support for the recommendations being accepted and implemented this year.

SME regulator pushes authorities to get behind new price saving initiative
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Tim Neary

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