Thanks for logging in.

You can now click/tap WATCH to start the live stream.

Thanks for logging in.

You can now click/tap LISTEN to start the live stream.

Thanks for logging in.

You can now click/tap LATEST NEWS to start the live stream.

LISTEN
Watch
on air now

Create a 4BC account today!

You can now log in once to listen live, watch live, join competitions, enjoy exclusive 4BC content and other benefits.


Joining is free and easy.

You will soon need to register to keep streaming 4BC online. Register an account or skip for now to do it later.

Advertisement
Advertisement
Advertisement

Angus Taylor puts energy companies ‘on notice’, threatens political consequences

Deborah Knight
Article image for Angus Taylor puts energy companies ‘on notice’, threatens political consequences

Electricity giants are being put “on notice” by federal Energy Minister Angus Taylor to lower power bills or face political consequences.

The pressure is on the electricity giants to abolish standing offers by January 1, otherwise the government will introduce a default market price six months later.

Mr Taylor insists “loyalty taxes”, where customers end up paying more after cheaper prices to lure them in expire, will be scrapped from July 1.

The minister also expects retailers to take the lead in making it easier for customers to compare deals with a voluntary comparison rate.

He tells Ross Greenwood it’s “particularly important for small business”.

“About 20 per cent of small businesses are on these standing offers because they simply don’t get time to negotiate something better, and they get stung.

“Those standing offers… have got higher and higher over time.”

Mr Taylor says “it’s not fair”.

“It’s simply not fair that a small business person, or a householder who is too busy picking up the kids or driving home from work in the afternoon, should get stung because they’ve trusted their energy company.

“That’s not on.”

Click PLAY below to hear the full interview 

Deborah Knight
Advertisement