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AER says better rules on pricing will help customers

The Australian Energy Regulator (AER) has called on more stringent rules to be established to ensure that electricity prices stabilise.

The independent organisation charged with governing electric transmission and distribution network is looking to ensure that prices don't increase as rapidly as they have done previously.

The acting chairman for the AER, Ed Willett,said at the Energy Users Association of Australia (EUAA) annual gathering that consumers can pay less if the rules regarding pricing structures are improved.

"In particular, the rules have constrained the AER's ability to deal with inflated expenditure forecasts and have locked in rates of return that do not reflect a business’s actual financing practices," he said at the conference.

The changes that are being put forward, Willett says, will allow customers a greater level of authority as businesses will have to engage with those who use their services and be more accountable to them.

If you're interested in fighting rising electricity prices, speaking to a switching service could be a good way to start. There may be a provider in your area offering cheaper rates, allowing you to save on your quarterly bill.

By Charlie Moore