HOW CUSTOMERS HAVE BEEN GOUGED
- Residential prices up 56 per cent in real terms over 10 years
- Household power bills up 35 per cent in real terms over the same period
- Bills would have been even higher except so many people installed solar panels
- Network owners used the Limited Merits Review scheme to appeal price decisions and scam billions of dollars back from customers
- Policy uncertainty meant companies didn't want to invest in new power generation
- But they also took advantage of higher prices to reap even more money from Australian households and businesses
- The NSW, Queensland and Tasmanian governments allowed over-investment in network upgrades, passing on billions in unnecessary costs to customers
- Queensland and NSW governments gouged the worst of network charges
- Private retailers deliberately confused customers
- Price comparison websites took commissions and didn't provide full range of offers
THE ACCC'S PREDICTED SAVINGS
* The competition watchdog predicts major savings if its recommendations are adopted
* Households could save at least $300 to $400 a year, with annual savings as high as $700
* Small and medium businesses at least $500 to $750 a year
* Companies could see bills slashed by $1450 to $2250 annually if they shop around for the best discounts.
