News National Malcolm Turnbull calls in energy bosses again

Malcolm Turnbull calls in energy bosses again

Malcolm Turnbull
The country's energy bosses have been called in to a second meeting to tell the prime minister why many households are still paying too much. Photo: AAP
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Malcolm Turnbull has ordered energy bosses to a second meeting after an audit revealed more than a million households are still paying the highest rates for electricity.

The Prime Minister says the number paying more than they need could be even higher because they are not on a suitable plan or their discounted offer has expired and they haven’t been told.

“What we are securing is (the companies’) commitment to make sure their customers know whether they are on the right plan,” Mr Turnbull told FOX FM on Monday.

“I want to make sure that as far as we can manage it no Australian is paying more than they need to for electricity.”

Mr Turnbull says retailers have already committed to telling customers when their plans are coming to an end.

That will be reaffirmed at a meeting in Sydney on Wednesday, the second in three weeks.

Mr Turnbull says he is already aware of reports of people being offered 25 to 27 per cent discounts.

Earlier this month, Mr Turnbull summoned seven electricity chiefs and their industry body to a meeting in Canberra.

Those invited to the meeting include the heads of Energy Australia, Origin Energy, AGL, Snowy Hydro, Momentum Energy, Alinta Energy, Simply Energy and the Australian Energy Council.

The Prime Minister has previously held a meeting with gas company chiefs, which led to government intervention in a bid to keep a lid on escalating prices.

The Australian Competition and Consumer Commission (ACCC) is due to release its interim report on competition in the electricity sector in September and a final report in June 2018.

But according to Energy Minister Josh Frydenberg the government can’t wait that long before acting.

“People may get a discount for one or two years but remain on a contract for five or six years but they don’t know when the discount ends,” he said in early August.

– with AAP