1 00:00:00,200 --> 00:00:03,960 Speaker 1: So the Competition Task Force, the Energy Competition task for 2 00:00:04,040 --> 00:00:05,720 Speaker 1: this is the group that the government's set up to 3 00:00:05,800 --> 00:00:08,560 Speaker 1: sort out the energy crisis. They have come up with 4 00:00:08,560 --> 00:00:11,000 Speaker 1: a bit of a proposal to hit the gen tailor's 5 00:00:11,200 --> 00:00:14,400 Speaker 1: where it hurts. So at the moment, the Electricity Authority 6 00:00:14,480 --> 00:00:17,119 Speaker 1: doesn't do anything if a gen tailor which is a 7 00:00:17,160 --> 00:00:21,680 Speaker 1: generator and a retailer offers favorable contracts from its generation 8 00:00:21,840 --> 00:00:24,880 Speaker 1: arm to its retail arm, contracts that it's not offering 9 00:00:25,040 --> 00:00:28,760 Speaker 1: to independence, right. They want to change this so that 10 00:00:28,800 --> 00:00:31,600 Speaker 1: the Electricity Authority will be able to force the gen 11 00:00:31,680 --> 00:00:34,360 Speaker 1: tailors to do exactly that, to offer the same terms 12 00:00:34,360 --> 00:00:37,960 Speaker 1: on the same contracts to everybody. Simon watches the Energy Minister, 13 00:00:38,040 --> 00:00:38,880 Speaker 1: High minister. 14 00:00:39,320 --> 00:00:40,240 Speaker 2: Very good afternoon, Ryan. 15 00:00:40,360 --> 00:00:41,760 Speaker 1: Is this actually going to do anything? 16 00:00:42,720 --> 00:00:45,960 Speaker 2: It absolutely is. It's going to create a level playing 17 00:00:46,000 --> 00:00:49,519 Speaker 2: field and the energy sector. We know that competition is 18 00:00:49,600 --> 00:00:51,800 Speaker 2: a major issue and challenge at the moment, and the 19 00:00:51,840 --> 00:00:56,480 Speaker 2: government takes competition seriously. This work is going to ensure 20 00:00:56,520 --> 00:01:00,279 Speaker 2: that we've got some non discrimination obligations. Basically means that 21 00:01:00,840 --> 00:01:05,240 Speaker 2: the gent tailors need to treat independent players equally, and 22 00:01:05,400 --> 00:01:07,960 Speaker 2: you know the old saying treat others as you treat 23 00:01:08,040 --> 00:01:11,880 Speaker 2: yourself is what this regulation is going to ensure occurs. 24 00:01:12,080 --> 00:01:14,160 Speaker 1: How will it do that? Because do they have to 25 00:01:14,240 --> 00:01:16,839 Speaker 1: report to you? Do they have to show you the contracts? 26 00:01:16,920 --> 00:01:17,880 Speaker 1: Otherwise how will you know? 27 00:01:18,800 --> 00:01:22,440 Speaker 2: So basically what the regulator is consulting on is the 28 00:01:22,560 --> 00:01:27,720 Speaker 2: concept of mandatory non discrimination obligations, which basically is making 29 00:01:27,760 --> 00:01:32,320 Speaker 2: it mandatory on the gent tailors not to discriminate against 30 00:01:33,040 --> 00:01:36,960 Speaker 2: the smaller independent players. I At the moment, many of 31 00:01:37,000 --> 00:01:40,040 Speaker 2: these gent tailors operate their own retail arms as well 32 00:01:40,080 --> 00:01:42,280 Speaker 2: as being a wholesaler, and they sell to themselves, but 33 00:01:42,560 --> 00:01:44,080 Speaker 2: they need to make sure they treat everyone fairly. 34 00:01:44,160 --> 00:01:46,080 Speaker 1: Yea, But how will you know whether they're doing that 35 00:01:46,240 --> 00:01:48,559 Speaker 1: or not unless they show you the contracts, will show 36 00:01:48,640 --> 00:01:51,160 Speaker 1: that the electricity authority of the contracts that they're signing 37 00:01:51,160 --> 00:01:53,760 Speaker 1: with their own because they'll be commercially sensitive. 38 00:01:53,440 --> 00:01:58,360 Speaker 2: Right, Yeah, there's a there is the commercial sensitive element. 39 00:01:58,400 --> 00:02:01,120 Speaker 2: But the regulator has said they're going to apply three 40 00:02:01,120 --> 00:02:05,240 Speaker 2: different steps. Firstly, they're going to have principles and requirements. 41 00:02:05,600 --> 00:02:07,960 Speaker 2: If that doesn't then work, then they're going to move 42 00:02:08,000 --> 00:02:13,680 Speaker 2: to a more robust non discriminatory requirement. And then beyond 43 00:02:13,720 --> 00:02:17,880 Speaker 2: that there's a third layer, which is basically in effect 44 00:02:18,040 --> 00:02:20,600 Speaker 2: mandated contracts and transparency. 45 00:02:21,919 --> 00:02:24,400 Speaker 1: Get that, gettle that. But I just from the get go, 46 00:02:24,880 --> 00:02:28,880 Speaker 1: how is the electricity authority going to have any idea 47 00:02:29,560 --> 00:02:31,760 Speaker 1: what's in the contracts or do you just take them 48 00:02:31,760 --> 00:02:32,280 Speaker 1: at their word? 49 00:02:33,120 --> 00:02:35,800 Speaker 2: No, the regulator has access to a lot of information 50 00:02:35,919 --> 00:02:37,559 Speaker 2: from within these organizations. 51 00:02:38,040 --> 00:02:40,280 Speaker 1: The question is that they'll get the contressure. 52 00:02:40,360 --> 00:02:42,360 Speaker 2: They'll be able to be able to see what's going 53 00:02:42,400 --> 00:02:43,799 Speaker 2: on in behind the scenes. 54 00:02:44,040 --> 00:02:46,519 Speaker 1: Okay, all right, is this going to bring the power 55 00:02:46,520 --> 00:02:47,400 Speaker 1: bills down to reckon? 56 00:02:48,200 --> 00:02:50,639 Speaker 2: Well, it needs to be. Our power prices are too 57 00:02:50,760 --> 00:02:53,400 Speaker 2: high in the moment that's having a major impact on 58 00:02:53,440 --> 00:02:57,600 Speaker 2: productivity and economic growth. We need more audible and reliable 59 00:02:57,720 --> 00:03:00,320 Speaker 2: energy and our viewers as this is going to be 60 00:03:00,320 --> 00:03:03,760 Speaker 2: a pathway in order to get us on that trajectory. 61 00:03:04,520 --> 00:03:06,600 Speaker 1: All right, minister, thanks very much. So that that's Simon 62 00:03:06,639 --> 00:03:10,079 Speaker 1: Watts is the Energy Minister. For more from Heather Duplessy 63 00:03:10,120 --> 00:03:12,959 Speaker 1: Allen Drive, Listen live to news Talks. It'd be from 64 00:03:13,000 --> 00:03:16,640 Speaker 1: four pm weekdays, or follow the podcast on iHeartRadio.