James McGrath (Queensland, Liberal National Party, Assistant Minister to the Prime Minister) Share this | Hansard source

The government believes that competition is the key to delivering lower prices. Regulation cannot guarantee lower prices. Despite the Australian Capital Territory regulating retail prices, electricity prices went up by nearly 20 per cent on 1 July 2017. Regulation hurts smaller retailers that are vital for competition and keeping prices down. The Australian Energy Regulator has consistently found that the privately owned networks have outperformed government owned networks.