
the podcast on
Tougher penalties for energy companies caught breaking the rules.
From next year the Electricity Authority will be able to order fines of up to $10 million, or 10% of a company's turnover – up from the current $2 million.
The fines can be issued if companies distort the market or take advantage of customers.
Octopus Energy CEO Margaret Cooney told Andrew Dickens one of the issues with lower fines is that players decide whether or not to comply since they could meet the low-level fine.
She says it's a high value sector, so it’s totally appropriate that fines have increased.
LISTEN ABOVE
Take your Radio, Podcasts and Music with you
Get the iHeart App
Get more of the radio, music and podcasts you love with the FREE iHeart app. Scan the QR code to download now.
Download from the app stores
Stream unlimited music, thousands of radio stations and podcasts all in one app. iHeart is easy to use and all FREE
