Thursday, 22 September 2011

ACCC warns on power costs

Summaries - Australian Financial Review
14 September 2011, Page: 8

Rod Sims, chairman of the Australian Competition and Consumer Commission, yesterday urged consumer groups and industry to support the Australian Energy Regulator's proposals to rewrite energy market legislation. Michael Fraser, chief executive of AGL Energy, also rebuffed remarks from Grant King, head of Origin Energy, by saying a reduction or postponement of the renewable energy target would create uncertainty for business investment in renewable energy. Any alterations to network investment would require the approval of the Australian Energy Market Commission.