Consumer watchdog's key energy findings

Matt Coughlan

ACCC ENERGY PRICES REPORT - KEY RECOMMENDATIONS

* The national market needs a reset. The current situation unacceptable and unsustainable.

* Changes are needed to bolster competition among wholesalers and retailers - network charges need to fall.

* The Australian Energy Regulator should be given more powers to target market manipulation.

* Discounts are misleading and need to be made fairer.

* Customers should be able to compare discounts from a default or benchmark rate set by the regulator.

* Customer transfer process should be sped up so customers can move to new offers quickly.

* Special conditions like pay on time discounts should not operate like harsh late penalties.

* Third party comparator sites should declare commissions.

* Government support to underpin long-term contracts for large commercial and industrial users that brings on new dispatchable power for new generators.

* A cap on any further merger or acquisition of a company with more than 20 per cent market share of generation (excluding companies building new generation).