Energy Giant Fined $14 Million for Failing to Let Customers Know About Cheaper Deals

Published on September 26, 2024

Energy retail giant EnergyAustralia has been ordered to pay a $14 million (US$9.6 million) penalty for making false and misleading statements to over half a million customers. The company admitted that in communications with 566,000 customers between June 20 and Sept. 12, 2022, it failed to mention the lowest possible price for new electricity offers. It further conceded that 27 offers published online between July 1, and Sept. 27, 2022, did not state the difference between the reference price and the lowest possible price, which is required under the Electricity Retail Code. Under the Code, electricity distributors in New South Wales, South Australia, and Southeast Queensland are required to disclose the reference price (a government-set benchmark price) and the lowest possible price (assuming all conditions for discounts are met) for transparency reasons....

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