ACCC: SA Price Spikes Okay
Source: Reneweconomy, 25 August 2016
If the South Australian government and energy consumer thought they might get some help from competition regulators to keep a cap on wholesale electricity prices, they are going to be disappointed. The chief regulator says he ha no problems with them exercising their market power.
“I think the energy market does allow people when they’re in that position to price they way they want. That’s how the market works,” Sims told an energy users’ conference in Melbourne, according to the Australian Financial Review.
“It’s not illegal to use your market power. We should never criticise people for using their market power, because you and I would do it as well,” Sims said.
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