The New South Wales, Victorian and Queensland Governments have called on the Commonwealth to roll back regulatory reform of the energy sector and grant more consumer protection at a special meeting of Energy Ministers held last week.

 

New South Wales Energy Minister Chris Hartcher, Victorian Energy Minister Michael O’Brien and Queensland Energy Minister Mark McArdle called for significant changes to be made to national regulatory arrangements to better protect consumers.

 

“The Australian Energy Regulator (AER) must operate in the ‘long-term interest of consumers’. With a 60 per cent increase in electricity prices in New South Wales over the last five years and with the other Eastern States experiencing increases also, clearly the interests of consumers have been ignored and the Federal regulator has failed,” Mr Hartcher said.

 

Mr O’Brien called for the separation of the Australian Energy Regulators from the Australian Competition and Consumer Commission (ACCC), saying that a stronger umpire with greater independence and clearer accountability is needed.

 

“A standalone regulator is in the best interests of energy customers. The time for Australia’s energy regulator being tied to the apron strings of the ACCC has well and truly passed,” Mr O’Brien said.