These residents can’t choose their power company. Even after reforms, they’re still stuck
Victorians living in embedded networks will see a reduction in energy prices due to new government regulations. Approximately 174,000 households and 20,000 small businesses are affected by these changes, which aim to align prices with the cheapest market offers. However, some strata owners believe that existing agreements should be terminated to prevent ongoing price gouging.
- ▪The Victorian government will force energy retailers to cut prices for customers in embedded networks starting July 1 next year.
- ▪About 174,000 households and 20,000 small businesses are currently locked into these private energy networks.
- ▪Energy Minister Lily D’Ambrosio stated that households could save up to $250 a year and businesses up to $600 under the new policy.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.