‘Big stick’ legislation to keep energy prices down

Energy Minister Angus Taylor told Sky News “big energy companies are not being as aggressive as the smaller players on their best market offers” prompting the opportunity to get a better deal and to shop around. The government has positioned itself to bring forward its 'big stick' legislation encouraged by the strong response from laws forcing retailers to cut their standard offers and keep their prices low. Almost 900,000 customers have begun to benefit after the government imposed the scheme on July 1, according to an ACCC report due to be handed down on Monday. Mr Taylor said “almost a quarter of small businesses are on standing offers”, but there is “very significant competition from the second-tier retailers”. Some household bills are dropping with savings estimated to be between $130 and $190 annually because “comparisons are possible in a way that wasn’t possible before”, he said. Image: News Corp Australia