Clifford Chance
Australian carbon tax repeal will force energy companies to prove savings are being passed on to customers
17 July 2014
After a flurry of last minute negotiations and amendments in the Australian Senate to obtain the necessary votes, the Coalition Government has achieved its election promise of repealing Australia’s “carbon tax” legislation.
Electricity and natural gas retailers now have new obligations to substantiate the impact of the repeal and pass on any cost savings to consumers.
They will be contacted by the ACCC and are required to substantiate how cost savings from the repeal of the carbon tax will be passed on to consumers. Substantial penalties apply for not complying with the new laws.
