Queensland’s treasurer has “named and shamed” Origin Energy for upping power prices despite benchmark electricity prices falling.
Last month the Australian Energy Regulator (AER) released a new benchmark pricing structure that could lower household electricity bills by up to 7.2 per cent in the state’s south-east.
The Crisafulli government handed down its “no sugar hits” second budget on Wednesday, one the premier promised would “lower the pressure on dinner table bills”.
‘Prices should be going down’
David Janetzki, who is also the state’s energy minister, said he had seen a letter to Origin customers suggesting prices would go up “significantly”.
“That’s not what they ought to be doing.“
“Origin is the first retailer that appears not to be doing the right thing, and this is just the beginning. I’ll be looking to name other retailers if they don’t do the right thing.”
He said the AER determination “made it clear that prices should be going down”.
“It’s important that when systemic power prices go down, consumers, businesses, should receive them.”
He said he had directed Ergon, which is state-controlled, to pass on savings to their regional customers — up to 6.9 per cent for households and 8.1 per cent for businesses — in full.
Mr Janetzki accused energy retailers of “playing games”, and said there was “no excuse” for increasing one component to offset the other, after customers reported confusion about their rates increases.
“I want to see savings in households and businesses’s pockets, not lining big corporate’s,” he said.
Mr Janetzki said he would ask the Queensland Competition Authority to investigate, and monitor prices.
Origin has been contacted for comment.
