Victorian law changes to make electricity suppliers more accountable

New legislation has been introduced in Victoria which the coalition government believes will save residents upwards of $94 million in electricity prices.

The planned changes to the Energy Legislation Amendment Bill 2012 will close a legal loophole that previously prevented the Australian Energy Regulator from penalising electricity suppliers who failed to meet performance standards. 

"The Victorian coalition government is fixing labor's mess and protecting Victorian households and families from increases in regulated electricity charges of up to $13.50 in 2013," said minister for energy and resources Michael O'Brien in a statement issued August 14.

"Changes introduced by the coalition government will reinstate incentives for energy distribution companies to offer quality services, including reliable power supplies, responsive call centres and efficient overall management of the grid."

Mr O'Brien went on to say that the state government believes that Victorian families are more deserving of the aforementioned $94 million than underperforming electricity networks.

It is predicted that the amendments will protect nearly two million Victoria households contracted to United Energy, Powercor and SP AusNet from price hikes of between $3 and $13.50.

Posted by Charlie Moore