Soaring power bills over the past years have left many hardworking Australians struggling to make ends meet. In a nation rich in fossil fuels and renewable energy sources, it’s also left most Aussies scratching their heads, wondering how we came to have some of the most expensive energy in the world.
In a new initiative to address runaway power prices, the AAP reports that the federal government will ask parliament to give the treasurer the authority to order energy companies to sell their assets, leaked documents claim.
Proposed law could force power companies to sell assets
According to a draft of the bill seen by Fairfax Media, the proposed law would enable Treasurer Josh Frydenberg to order the restructuring of power companies. It would also allow him to order the sale of their assets when this is in the public interest.
The draft bill, the Treasury Laws Amendment (Electricity Price Monitoring) Bill 2018, will be presented to parliament when it resumes next week. The coalition is asking for submissions this week.
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