Class action against state-owned power companies alleges price gouging

“This is about abuse of power. Stanwell and CS Energy are the largest two [electricity] generators in Queensland,” Mr Whyte said.

“They hold enormous market power, and they used that power to manipulate prices on the electricity market, and that has driven up prices for all consumers, residential and business.”

Mr Whyte said the class action alleged the two companies used their influence as a combined 70 per cent of the state’s energy market to inflate the price they sold their electricity on the NEM.

This extra cost would then be passed on to consumers via the power companies that bought the…