Australia Business News
Dodo Fined $82,500 For Violating Electricity Price Caps
Energy retailer Dodo has been fined $82,500 for exceeding electricity price cap regulations, breaching the electricity code of conduct.
M2 Energy Pty Ltd, trading as Dodo Power & Gas, admitted to the violations after receiving six infringement notices from the Australian Competition and Consumer Commission (ACCC).
During the 2022-23 financial year, Dodo offered two energy plans with prices higher than the price caps, or default market offers, set by independent regulators.
The company also sent out price change notices in 2023 that lacked necessary information.
"The Electricity Retail Code mandates that retailers issue comprehensive pricing details to consumers, enabling them to compare electricity plans"
Dodo also failed to record how it calculated some price-related matters as required by the code, according to the ACCC.
This marks the first time the ACCC has taken action against an energy retailer for breaching price caps.
ACCC Commissioner Liza Carver said: "The price cap is the maximum allowable price for standing offers, and serves an important function to protect standing offer customers.
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