Media Release

6 November 2018

NSW Labor is doubling down on its promise to re-regulate the electricity market in NSW, as the Berejiklian- Barilaro Government refuses to make the move which would force power bills down.

Shadow Minister for Energy and Leader of the Opposition in the Legislative Council Adam Searle was in Murwillumbah today alongside Tweed Labor’s, Craig Elliot, to reaffirm that Labor will re-regulate the electricity market to help Tweed residents and businesses manage their power bills.

Mr Searle and Mr Elliot spoke to a business owner at IGA Tweed Valley, whose contract has gone up by a staggering $100,000 – a fifty per cent increase.

Last month, the Morrison Liberal Government even backed in NSW Labor’s push to ensure power retailers set their prices against a regulated default market price.

It follows the consumer watchdog, the ACCC, in July recommending the introduction of a maximum retail price cap set by the Australian Energy Regulator. The price cap will be lower than the current standing offers of the electricity retailers.

The ACCC recommended a range of measures, including many put forward by Labor, which would reduce average household and small business power bills by approximately 24 per cent.

Labor announced that it would re-regulate electricity prices last year and has welcomed the ACCC’s proposal for mandatory price caps set by the independent regulator.

Households and small business are suffering from high electricity prices but the Berejiklian-Barilaro Government just sits on its hands.

Skyrocketing power prices are due to the Liberals and Nationals privatisation of electricity and the de-regulation in 2014 of retail prices.

Average household power prices have increased by 60 per cent since 2011, including up to 20 per cent since Gladys Berejiklian became Premier.

Quotes attributable to the Labor Leader in the Legislative Council and Shadow Minister for Energy, Adam Searle MLC:

“For eight years, the Berejiklian Government has had just one energy policy – privatise and deregulate – which has caused skyrocketing prices for households and businesses.

“NSW Labor has committed to re-regulating retail electricity prices, but the Berejiklian Government has refused to do so.

“Residents in Tweed deserve a lot better than a Government that is privatisation obsessed and focused on Sydney stadiums – rather than easing cost of living pressure for families.”

Quotes attributable to Country Labor’s Candidate for Tweed Craig Elliot:

“Regional NSW energy customers are already worse off compared with their city counterparts.

“Only a Labor Government will re-regulate the electricity market to bring power prices down.”

Adam in Tweed with Country Labor's Craig Elliot, talking with local residents and small business operators who have been hit with massive increases in electricity costs over the past few years.