M2 Energy Pty Ltd (Dodo) and CovaU Pty Ltd (CovaU) have paid penalties totalling $37,800 and $12,600 respectively after the ACCC issued each energy retailer with infringement notices for alleged misleading claims about discounts available on their energy plans.
Dodo and CovaU have both committed to refund affected customers.
High gas prices remain a critical issue for domestic gas users and could see more businesses move or close in the east coast, according to the Gas Inquiry 2017‑20 Interim Report released by the ACCC today.
The report shows that most commercial and industrial Australian gas users will pay more than $9/GJ for gas this year, and some more than $11/GJ.
ACCC Chair Rod Sims delivers an address to 2019 APPEA Oil and Gas Conference in Brisbane. Mr Sims discusses the state of the east coast gas market, gas prices and regulation in this sector.
The ACCC will not oppose Australia Pacific LNG’s (APLNG) proposed acquisition of the Ironbark coal seam gas project from Origin Energy (Origin).
APLNG is a large gas producer with significant gas tenements in eastern Australia. It supplies almost 30 per cent of the gas going into the east coast market, and processes the balance of its gas for export at its LNG facility near Gladstone, Queensland.
Effective economic regulation essential to ensuring sustainable investment in infrastructure
The ACCC has instituted proceedings in the Federal Court against iSelect Limited, for misleading or deceptive conduct and false or misleading representations in relation to its energy plan comparison service.
The ACCC alleges that since at least November 2016, iSelect has claimed consumers using its website would benefit from iSelect comparing all plans available from its partner retailers in a specific location. During this period, iSelect also claimed that it would recommend the most competitive plan to consumers.