A proposal to slash Victorian power bills by forcing energy companies to offer a no-frills "basic service offer" is meeting fierce resistance from renewable energy retailers, who have leapt on a recent warning by Australia's competition watchdog that it will drive smaller operators out of business.
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| Powershop CEO Ed McManus is threatening to cease investment in Victoria should the government adopt the plan. |
The Australian Competition and Consumer Commission has warned the Andrews government that there are "significant risks" in adopting a basic service offer, including that "it may lead to some retailers exiting the market, leading to fewer options for consumers".
Read the story by Adam Carey from The Age - “Andrews' push for cheaper power could backfire, energy industry warns.”
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