Senior energy executives have taken the opportunity of a face-to-face meeting with Malcolm Turnbull to argue policy certainty is required to help lower power prices for consumers – and to signal they are not interested in prolonging the life of coal plants.
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| Malcolm Turnbull and Josh Frydenberg were told by senior energy executives that they were interested in running businesses that reduced their climate risk. |
With the government under acute political pressure over rising household power bills, Turnbull secured new undertakings from major energy retailers on Wednesday to be more transparent with their customers.
Agreements reached on Wednesday included a change to the national energy market rules requiring companies to inform customers when their discounted power deal ends, and to set out the dollar impact of doing nothing.
The retailers agreed that they would contact all their customers on expired discount deals and offer them information about more favourable plans, and also develop simple fact sheets setting out “understandable” comparison rates.
The changes should help consumers shop around for better deals.
Read Katharine Murphy’s story on The Guardian - “Energy executives tell Turnbull they aren’t interested in prolonging life of coal plants.”
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