Energy Minister reveals plan to reduce “unreasonable” small-business energy bills

SmartCompany, March 21, 2019

Energy Minister Angus Taylor says small businesses have been treated “unfairly” by energy retailers and are paying unreasonable prices because they don’t have time to negotiate a better deal.

Speaking at COSBOA’s energy summit in Melbourne on Wednesday, Taylor spruiked a plan to step into the market on behalf of businesses and enforce a price regulation on some energy deals.

The policy, which has bipartisan support, will scrap widely criticised standing offers in states where they exist and instead create a new default market price, to be set by the Australian Energy Regulator (AER).

Speaking to SmartCompany on the sidelines of the event, Taylor claimed $1,000 or more in annual savings awaits savvy business owners who renegotiate their power bills under the proposal. “The crucial thing for small businesses is to make the call,” Taylor says. “You will have very clear reference prices and there are very significant savings up for grabs.”

Energy retailers and price-comparison websites are preparing for a flood of enquiries in the new financial year as consumers and business owners chase new deals under new rules. READ MORE: