Simon Birmingham (SA, Liberal Party, Minister for Education and Training) Share this | Hansard source

Not only are we going to make sure that these reforms are in place but we will hold energy companies to account to make sure they are delivered upon and that consumers see real benefits in relation to these reforms. The ACCC will prepare ongoing reports identifying cases where outcomes are unacceptable. Businesses will have the opportunity to explain and rectify those issues, but if businesses fail to do so the ACCC will be empowered to recommend proportional and targeted responses, for the Treasurer's determination. The range of enforcements and remedies that could be applied are wide ranging and far reaching, and go further than any such remedies ever proposed before. They range from beginning with a public warning notice to be issued by the Treasurer, through court-enforceable undertakings and the conversion of the default market office into a binding price cap, to, ultimately, the potential divestiture of assets or parts of energy businesses to make sure those businesses understand the severity of their failure to put consumers' rights first. (Time expired)