A PYMNTS Company

Australia: Government price cuts threaten electricity market, says AGL

By  |  October 23, 2012

According to AGL Energy chief executive Michael Fraser, AGL has cut marketing efforts and certain customer discounts due to recent decisions by the Queensland Competition Authority and the Essential Services Commission of South Australia to cap energy prices. Fraser is voicing concerns over the effects of the decisions, arguing that they pose a threat to the functioning of the National Electricity Market. AGL estimates ESCOSA’s decision will cause $45 million in losses in the 2012/2012 financial year.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: 9News Finance

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Related Content: Industry Restructuring, Mergers, and Efficiency: Evidence from Electric Power

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.