Submission | Inquiry into retail electricity supply and pricing

The Australian Chamber of Commerce and Industry (Australian Chamber) welcomes the opportunity to provide this submission to the Australian Competition & Consumer Commission’s (ACCC) inquiry into retail electricity supply and pricing.

Energy needs to be affordable, reliable and secure for both business and households. With that in mind, the Chamber seeks policies that will deliver a near-term reduction in electricity prices, followed by ongoing reductions in the real cost of energy over the longer-term. This requires a thorough examination of the key cost components facing electricity consumers. The Australian Energy Market Commission (AEMC) has identified these as network costs (40 to 55 percent of an electricity bill), wholesale and retail costs (40 to 50 percent of an electricity bill) and various federal and state environmental schemes (5 to 15 per cent).