Productivity Commission Draft Report – Review of Australia’s Consumer Policy Framework.

The Productivity Commission (PC) recently published its draft report reviewing Australia’s competition policy framework, making specific comments on the regulation framework for energy. PIAC, as a participant of the National Consumers’ Roundtable on Energy, has made a joint submission to the review, providing detailed information on the current state of the national energy market and how consumers and environmental outcomes are affected by the regulation framework. In particular, the submission explains why industry specific regulation is necessary to protect consumers in the energy market. Whilst the submission supports the PC’s recommendation to increase funding for financial counsellors, it questions the PC’s recommendation to establish a national energy ombudsman scheme. The submission also highlights the important role price regulation plays in protecting consumers in the energy market.