Margaret Cooney: Octopus Energy CEO on the Electricity Authority being granted the authority to order harsher fines

Tougher penalties for energy companies caught breaking the rules.   From next year the Electricity Authority will be able to order fines of up to $10 million, or 10% of a company's turnover – up from the current $2 million.  The fines can be issued if companies distort the market or take advantage of customers.  Octopus Energy CEO Margaret Cooney told Andrew Dickens one of the issues with lower fines is that players decide whether or not to comply since they could meet the low-level fine.  She says it's a high value sector, so it’s totally appropriate that fines have increased.  LISTEN ABOVE See omnystudio.com/listener for privacy information.