Business EnvironmentChamber Updates

Electricity Pricing Class Action

14 July, 2020, Posted By tvlchamber

Piper Alderman is preparing to file a State-wide class action targeting electricity prices in the Qld region of the national electricity market. The action will seek to recover compensation for all electricity customers in Queensland from August 2014- December 2019 period.

If you purchased electricity at any time between August 2014 and December 2019 you are invited to visit www.QLDEnergyClassAction.com.au to obtain more information and register to participate in the action.

It is cost free and risk free to register on the basis that the claim is being fully funded by an Australian litigation funder, Litigation Capital Management.

The claim will allege that two of Qld’s largest coal-fired electricity generators engaged in “bidding games” or trading strategies designed to artificially create scarcity of supply of electricity and to spike energy prices for their own profit, in contravention of section 46 of the Competition and Consumer Act 2010.

Greg Whyte, head of Piper Alderman’s Dispute Resolution and Litigation team in Brisbane, said, “This case is about abuse of market power. I believe the wholesale cost of electricity has been illegally manipulated to drive up the prices paid by all Queensland businesses and consumers since 2014. It’s had a devastating effect on the Queensland economy. We are trying to stop that behaviour and recoup the losses that illegal conduct has caused. For businesses. For Queenslanders.”

Piper Alderman will be travelling to Townsville in the coming weeks to meet with business owners to discuss the action further. Members of the Chamber of Commerce are encouraged to contact Lachlan Lamont of Piper Alderman to arrange a meeting when he is here.

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