ACOSS welcomes review of the electricity default market offer

ACOSS

ACOSS strongly welcomes Minister Bowen’s review of the electricity Default Market Offer (DMO) to better protect people from unreasonable electricity price rises.

ACOSS CEO Cassandra Goldie said: “We strongly welcome the review of the DMO. It must be reformed to act as a proper safety net rather than just a cap on market prices.

“The DMO should be based on an ‘efficient’ and ‘fair’ price for an essential service rather than a ‘reasonable’ price that benefits retailers.

“Large energy retailers are making enormous profits while people are struggling with energy debt, putting food on the table and keeping their homes cool in summer and warm in winter.

“Our sector has been calling for reform and we warmly welcome the Government’s announcement today.”

Notes to editors: The DMO is a maximum price that retailers can charge electricity customers on default contracts known as standing offer contracts. It sets a benchmark for market offers by retailers. If the DMO goes up, market offers usually follow.

Contact details:

Charlie Moore: 0452 606 171