Smart meter ‘time of use’ pricing will only drive up profits

Nicholas McCallum

MEDIA RELEASE: Tuesday 9 July, 2019                  

The Electrical Trades Union is demanding governments prevent electrical retailers from gouging households with “time of use pricing” after new research shows Australians will be slogged more than $400 a year.

A new report from the Australia Institute shows that smart meters are likely to drive up power prices for households as private companies try to drive up profits under the veil of encouraging consumers to adapt their habits.

ETU National Secretary Allen Hicks said Australian energy prices in states with privatised networks were already unnecessarily high and energy companies needed to be reined in.

“Energy providers stand to make massive profits from these unfair changes because they know Australian families cannot change their electrical consumption habits,” he said.

“The energy companies pushing for ‘time of use pricing’ know this will only lead to higher profits for shareholders because of higher prices for consumers.

“As the Australia Institute research shows, household consumers have very little ability to change their consumption habits and it will cost them another $400 a year on top of already-high prices.

“This is more proof that the private, for-profit energy market is failing Australian consumers and flawed ‘time of use’ metering will only cost households more.

“The solution to getting Australian energy prices down is taking the system out of private hands and giving it back to the public so the electrical network and supply is run for the people, not profit.”

Media enquiries: ETU National Communications Coordinator – Nicholas McCallum

0419 499 886, [email protected]

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