Victorian energy regulator gives Momentum Energy $900,000 penalty

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Victoria’s energy regulator has confirmed it has issued $900,000 in penalty notices to Momentum Energy for allegedly overcharging hundreds of vulnerable Victorians by failing to apply relevant concessions to customer’s bills.

The company has also agreed to an enforceable undertaking to pay back all affected customers.

Chairperson Kate Symons says this is one of the highest penalties ever imposed by the commission, and the size of the penalty reflects the seriousness of the commission’s concerns over the behaviour.

“This isn’t the first time that Momentum Energy has had to take part in an enforceable undertaking and these repeated incidents have let down Victorians who deserve better treatment.”  

In August, ESD News reported Momentum Energy would compensate 850 customers after the company cut their power after issuing them a notice missing a clause required by regulation.