The closure of bank branches, and potentially Australia Post, in favour of digitisation will leave many areas and the older people who reside there without services.
We now believe that it is time for a new iteration of the Financial System Inquiry to ensure that the regulatory structure of financial services is fit for purpose in the rapidly evolving circumstances that Australia faces.
We welcomed the proposed Consumer Vulnerability Strategy as a genuine attempt by the AER to improve energy affordability and reduce the barriers that restrict energy customers’ engagement in the market, especially those facing payment hardship.
The Guideline’s purpose is to facilitate retailers to prepare and issue bills that will make it easy for customers to understand and engage with billing information.
COTA Australia’s submission congratulates the signatories on their progress in bedding down the principles of the Energy Charter. We support that some are now targeting actions that move beyond regulatory obligations or ‘business as usual’.
In our submission we voice full support for the AER’s creation of a Guideline that would ensure bills meet the needs of consumers, now and into the future, in an efficient way that minimises cost and enables industry innovation.