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Liberal MP calling for tougher laws after AGL reject $250m bid for Liddell

Article image for Liberal MP calling for tougher laws after AGL reject $250m bid for Liddell

Chair of the Coalition’s backbench Energy and Environment Committee Craig Kelly is suggesting the ACCC toughen competition.

It comes after AGL formally rejected a $250-million bid from its rival Alinta to buy the Liddell Power Station.

The energy giant has been under pressure to prolong the life of its Liddell facility in the New South Wales Hunter, but the company has repeatedly stated it’s not interested in selling the coal-fired power station and will shut it down by 2022.

The federal government is now being urged to forcibly acquire the power station.

Chris Smith says it’s a “slap in the face” for consumers.

Mr Kelly says “it’s what we expected”.

“We know how AGL operate. They want to see high wholesale prices in the electricity market so they can keep their profits up.”

The Liberal MP is calling for a close look at competition laws.

“If Rod Sims thinks that our competition laws aren’t tough enough, let’s put tougher provisions in there so firms in the essential services… if they engage in anticompetitive conduct to reduce supply that harms consumers, that will be a breach of our competition laws.”

Listen to the full interview below