The scam Big Energy Companies are running, that no one is talking about.
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A pay-on-time discount is simply a late fee, a negative disguised as a positive. The higher the percentage the more dangerous it becomes.
Large Pay-on-Time Discounts by Energy Retailers are simply excessive Late Fees that unfairly target low income earners. Energy Retailers increase the charges for their products so that in return, they can offer large pay-on-time discounts (up to 35%), supposedly to entice customers to pay on time. The truth is that when a customer can't afford to pay their energy bill on time, the customer forfeits the right to the large "pay-on-time discount". This means the energy retailer is receiving a highly inflated price, costing substantially more than the going rate for that particular energy bill, this is commonly called price gouging.
This practice by energy retailers has nothing to do with customers paying on time, it is a predatory action against the disadvantaged, elderly, disabled and those living pay cheque to pay cheque. It is an obscene practise, aimed at price gouging those in our society who can least afford it. This is an unnecessary, harsh and unconscionable business practice that requires government intervention and legislation to prevent it from continuing.
Energy Minister Mr Frydenberg, legislate to limit pay-on-time discounts to 5% Immediately.
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