EUAA Submission: Treasury Laws Amendment Bill (Divestiture)
Emily Wood | January 30, 2019
‘The EUAA is extremely concerned about the impact of the proposed legislation, particularly its potential unintended consequences. Our members need policies that act as a coherent whole to address the need for policy stability to create both a positive investment climate for players all along the electricity supply chain and a competitive market for consumers.
The EUAA is very concerned about the proposed divestment powers of the Treasurer, even if they are operating on the advice of the ACCC. These powers represent deep and genuine sovereign risk and set up a dangerous precedent. They are inconsistent with best practice for a modern economy, such as Australia’s, and were specifically considered and rejected by the ACCC in its 2018 report and the Harper Competition Policy Review. We do not believe that they are consistent with the National Electricity Objective of the long term interests of consumers.’
Download our submission for full details.
