‘Big stick’ laws ‘will not interfere in market’

The idea that the government’s proposed ‘big stick’ energy policy would interfere in the energy market is ‘weak, and its wrong-headed’, says Sky News host Christ Kenny. Mr Kenny notes the market is already ‘so heavily regulated and so full of government interventions’ that it’s ‘ludicrous’ to call it a free market. Under the government's proposed Treasury Laws Amendment (Prohibiting Energy Market Misconduct) legislation , energy companies will be urged to cut wholesale prices and guarantee baseload supply. In extreme circumstances, the government will be able to strip energy companies of assets if they are found guilty of misconduct. The legislation is opposed by Labor and the Greens, with energy company AGL calling the legislation 'draconian.'

from National | Daily Telegraph http://bit.ly/2HHUI9p