Customers are paying excessive energy bills according to the head of a consumer watchdog, who said the electricity regulation system is failing.
The chairman of the Australian Competition and Consumer Commission, Rod Sims, says the system is not working, and is the reason for a 90 per cent hike in power prices over five years.
Mr Sims will be putting this case forward at an annual conference of the Energy Users Association.
He believes network companies have too much power in setting prices, and spending decisions had been made without fully considering if the benefit justifies the cost.
The ACCC says the Australian Energy Regulator has been unfairly blamed, which is placed under heavy rules and guidelines.
http://www.abc.net.au/news/2012-10-24/accc-says-power-price-increases-excessive/4330834
Black and White 