24 February 2014

ACCC to keep a close eye on prices before carbon tax is axed

Note

This media release announces that the ACCC will start monitoring electricity and gas prices to establish a baseline price, ensuring that customers, both business and consumers, are not charged higher prices once the carbon tax is abolished by the Federal Government.

The consumer watchdog will start monitoring electricity and gas prices to establish a baseline price, ensuring that customers, both business and consumers, are not charged higher prices once the carbon tax is abolished by the Federal Government.

We are delivering on a key election commitment to abolish the carbon tax, to help build a stronger economy, and on average boost the family budget by $550.

That's more money to help make ends meet and to bring down the cost of living for Australian families. Energy-dependent businesses will also benefit from reduced energy costs.

It means that small businesses will no longer need to absorb the cost of the carbon tax, increasing their productivity and competitiveness and contributing to the country's economic growth.

The Government has issued a Direction to the ACCC to start this important work from 1 March 2014.

As part of the Direction, the ACCC will be able to request information on the prices being charged by business.

If Bill Shorten is serious about improving living standards and reducing costs to families, he will ensure Labor supports axing the carbon tax.