Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Hansard source

I can go through the detail of the Palmer amendment, part of which is to insert two new divisions into the new part V of the Competition and Consumer Act 2010, called divisions 2B and 2C, which will impose general obligations on electricity and natural gas retailers to provide information to the ACCC and customers on the cost savings that have been or will be passed through to consumers. Retailers of electricity and gas will need to do two things: firstly, they will need to give a carbon tax removal substantiation statement to the agency and, secondly, they will also need to inform customers by 31 December 2014 of the average estimated cost saving for 2014-15 resulting from the repeal of the carbon tax that has been or will be passed on through to the consumer.