Rob Oakeshott introduces bill for pricing regulations

The Australian Associated Press reports that federal independent MP Rob Oakeshott has asked for laws to cover regulations surrounding electricity prices.

The member for Lyne has called for these reforms in a bid to save users up to $100 a year on their power bills.

Telling parliament on Monday (October 29) that current pricing schemes had cost consumers up to $3 billion since 2009, he said this bill would fix the electricity network price appeals process as it would be mandatory that any appeal takes price impacts into account.

"There is a widespread consensus that the electricity sector has experienced a profound regulatory failure when it comes to network prices," he said.

It comes as the AAP reports that acting New South Wales premier Andrew Stoner said that electricity prices would increase if the federal government forcibly acquires access to NSW power poles to help facilitate the roll out of the National Broadband Network.

The NBN reportedly needs access to these poles in areas where fibreoptic cable cannot be laid underground. But the NSW government says it has been offered $400 million less than the cost of doing so and any charges incurred as a result will be passed onto the consumer.

By Charlie Moore