Energy retailer Dodo has been fined $82,500 after breaching the electricity code of conduct by exceeding price cap regulations.
M2 Energy Pty Ltd, trading as Dodo Power & Gas, admitted it had breached the code after the Australian Competition and Consumer Commission issued it with six infringement notices.
Dodo said it had two energy plans during the 2022-23 financial year with prices that were higher than the price caps, or default market offers, set by independent regulators.
It also sent out price change notices in 2023 that didn't include necessary information, and "did not make a record of how it calculated some matters related to the offered prices as required by the code", the ACCC said.
It's the first time the ACCC has taken action against an energy retailer for breaching price caps.
"The price cap is the maximum allowable price for standing offers, and serves an important function to protect standing offer customers. It also acts as a common reference price to compare offers against," ACCC Commissioner Liza Carver said.
"The Electricity Retail Code mandates that retailers issue comprehensive pricing details to consumers, enabling them to compare electricity plans.
"Not only does this information allow consumers to make well-informed choices that best suit their individual needs, but it is also crucial when deciding whether to switch provider for a more affordable plan.
"This is particularly important given the current economic climate in which households continue to face cost of living pressures."
It's not the first time Dodo has fallen foul of authorities.
In 2020 it was fined $20,000 by the Australian Energy Regulator for not appointing a metering coordinator promptly.
A year earlier, it had been issued with three infringement notices by the ACCC over misleading claims about energy price discounts, leading to fines of $37,800.
