Submission: ICRC Retail Electricity Price Investigation 2020-24 Draft Report
4 January 2020
ACTCOSS, Care Financial Counselling Service, and Better Renting made a joint submission to the Independent Competition and Regulatory Commission (ICRC) in response to their Retail Electricity Price Investigation 2020-24 Draft Report.
Our submission welcomed the estimated 6.75% reduction in the average price of electricity in 2020-21. We strongly support the ICRC’s recommendation to introduce much-needed measures to improve the transparency and comparability of electricity offers and increase the responsibility and accountability of retailers.
We recommend that the ICRC and ACT Government consider the introduction of the Basic Service Offer in the ACT, as there remains a need for a safeguard for consumers – especially those who are on low incomes or otherwise vulnerable – who experience barriers to engaging in the electricity retail market to ensure that they have access to electricity as an essential service at a fair price.