Rising energy costs have substantially increased costs for small business owners. In addition, they have increased costs for most households which means that Australian households have less money to spend in small businesses across the country.
These two factors have combined to create unnecessary uncertainty for small business people, their employees and the families that depend on them.
COSBOA CEO Peter Strong said today, “Our energy prices have risen by 56 per cent above the rate of inflation over the last decade. We must bring energy costs down faster and continue to send the right message to the small business community and their customers. Policies must be put in place to immediately address rising energy costs for Australian small businesses.”
“We urge all politicians to agree and implement other available mechanisms to lower electricity prices.”
“It is time for all of our politicians – irrespective of their alliances – to immediately set aside their political differences and make an urgent decision in the interest of not only small businesses, but of all Australians”.
One area that should be an immediate focus is the ACCC’s report into the retail electricity market in Australia.
“We believe that, in the face of the current political impasse, there is an opportunity to provide immediate price relief by adopting the key recommendations of the ACCC’s report”, Mr Strong added.
In particular, COSBOA believes that implementation of the ACCC’s recommendation on a benchmark power price is an immediate opportunity that could empower small business owners and households to better understand whether they are paying too much for their electricity now – and change to a cheaper provider if they are.
Mr Strong also added “With this benchmark price in place, COSBOA would develop an energy price calculator and a retail provider comparison that could be used by small business owners to overcome the current billing complexity, readily compare costs and then get the best deal from energy retailers”.
“We are fed up with the constant political bickering on issue, much of which appears to be premised on the differing political ideologies of our national and state/territory politicians”.
“It is time for our politicians to come together and agree on strategies that provide immediate financial relief for Australia’s electricity users”.
1. The Council of Small Business Australia (COSBOA) was founded in 1979 and was incorporated in 1985.
2. COSBOA is Australia’s peak body exclusively representing the interests of small businesses.