Alan Fels reporting into excessive energy charges

[Rowdy1961]

Can AGL explain why AGL are described in a report by Prof Alan Fels that retail energy pricing is excessive. The report states "AGL needs to explain why consumers are paying $60.10/Megawatt-hour more than seems to be justified by cost differentials,” Fels’ report said

While AGL is charging record retail pricing to your customers justified due to increasing wholesale and operational costs. How can it be possible that

AGL Energy posts $576m half-year profit. This is the highest peofit ever made by AGL.

Alan Fels report confirms that AGL is charging excessively. This is Unaustralian and theft as australians have no alternative. This price gouging is effected men women and children, causing businesses to close as they cannot afford to pay the electricity priceses being charged. 

It is so sad to see Australia and Australians being treated this way. Why is AGL and other energy retailers so selfish and cruel. This will lead to mental health conditions and death. 

https://www.australianunions.org.au/2024/02/07/inquiry-into-price-gouging-full-report-released/

[Lester]

Last month especially, there was news around about how wholesale power costs have fallen, quite dramatically.

Note, this applies to NEM states, as far as I'm aware, not an expert on how all this works.

A South Australian announcement.

https://www.premier.sa.gov.au/media-releases/news-items/government-welcomes-power-price-fall-in-mark...

States for SA, and possibly other NEM states, wholesale power prices dropped nearly half, from $64 per megawatt-hour in the December quarter of 2022 to $33/MWh in the same quarter in 2023.

A quick search just found The Australian Energy Regulator recently released its draft Default Market Offer (DMO), known as DMO 6, for energy prices in 2024/25.

https://www.indaily.com.au/business/energy/2024/03/19/sa-power-bills-set-to-drop-after-energy-regula... 

It states drops for like majority of residential customers could see price reductions of between 0.4 per cent to 7.1 per cent.

"could see" . . . hmmmm.

Also says other residential customers may see increases between 0.9 per cent and 2.7 per cent, depending on their region and whether they have controlled load.

So all seems a bit miniscule after the increases most have seen in the past 12 - 18 months.

[David_AGL]

Hi @APEX No, the $70 million does not include Energy Bill Relief Fund payments or existing concessions, although one of the measures included in the package is improving insights and training for customer service agents, to help proactively identify customers showing signs of hardship and assist them to access those support options they are entitled to as well.

[APEX]

....and when exactly was the measures regarding identifying customers showing signs of hardship instituted and more importantly, what is the response when a customer is identified as suffering from hardship?