ACCC to look into gas prices

Brisbane [AAP]

The federal government will launch an inquiry into gas producers to increase transparency and drive down household bills.

Gas retailers have recently added a rental fee for gas cylinders, increasing bills for some substantially.

Industry minister Ian Macfarlane says the Australian Competition and Consumer Commission will lead the six-month probe.

He announced the measure on Wednesday while releasing the government’s energy future blueprint.

‘We want to see that market operate transparently,’ he told reporters in Brisbane.

‘We want consumers to be able to see how gas is being priced, where it’s available, what stocks are held and have more transparency in that market than what we have currently.

‘That will also drive down prices through better transparency and better competition.’

Mr Macfarlane said more details would be unveiled soon.

He and and small business minister Bruce Billson have already met with ACCC chairman Rod Sims, who is preparing the framework for the inquiry.

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