THE HON JIM CHALMERS MP
TREASURER

MEMBER FOR RANKIN

LETTER TO ACCC ON ELECTRICITY AND GAS PRICE RISES

I’ve written to the ACCC expressing my deep concern about skyrocketing electricity and gas prices and the impact this is having on households and industry.

While there are a number of factors driving these price increases, the ACCC plays a critical role in monitoring and reporting on developments in the electricity and gas markets and it will be important for the ACCC to ensure that the factors influencing prices in these markets are made fully transparent.

I have asked the ACCC to advise the Government of any regulatory changes that may be required to ensure these markets are functioning properly.

I also expect that the ACCC will investigate any concerns about anti-competitive or false and misleading conduct in these markets and take appropriate action.

The Government is considering a number of actions in response to the energy crisis we’ve inherited, and this will help ensure any other steps are guided by evidence and expert advice.

I’ve consulted the ACCC and am working closely with Ministers Bowen, King and Husic on all of these issues.

MONDAY, 6 JUNE 2022