On 20 August 2018, the Government announced a package of measures to put downward pressure on electricity prices.
As part of this package, the Government announced that it would task the ACCC with monitoring of retail prices, wholesale bids and conduct and contract market liquidity in the National Electricity Market (NEM) between 2018 and 2025.
The Government announced a range of enforcement remedies and responses, which would be available to be applied where the ACCC identifies problems.
The Government is now in the process of developing legislation to implement the announced regime under the Competition and Consumer Act 2010.
The Government welcomes submissions from stakeholders on the proposals contained in the consultation paper.