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Australia: Government price cuts threaten electricity market, says AGL

 |  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.

Full Content: 9News Finance

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