ACCC crackdown on Energy Australia’s dodgy door-knockings: Midday roundup

Energy Australia and four marketing and sales companies are in trouble with the Australian Competition and Consumer Commission about their door-to-door sales practices.

The ACCC has filed Federal Court proceedings against five companies and is alleging sales representatives engaged by Energy Australia, made false, misleading or deceptive representations while calling on consumers at their homes when negotiating agreements for the supply of retail electricity or gas by Energy Australia.

The ACCC alleges this occurred in Victoria, New South Wales and Queensland between July 2011 and August 2012.

SMART, Aegis Services Australia, Aegis Direct and Australian Sales and Promotions are the sales companies involved.

Shares flat despite Wall Street lead

Australian shares have opened flat, posting minor losses this morning, despite analysts predicting the market would open high off the back of the Dow Jones record results this week.

At Midday the S&P/ASX200 was down 2.3 points to 5106.9, while the Dow Jones Industrial Average was up 0.23% to 14329.14 at close last night.

Greens propose bank tax for budget

The Australian Greens have proposed imposing a tax on the big four banks which would raise $11 billion over four years.

The money would be insurance to ensure the companies do not fail.

“It is time to ask the big banks that are making record profits to pay a fairer share to the community,” Greens deputy leader Adam Bandt told ABC Radio this morning.

“If they turn around and say, ‘well you asked us to pay a fairer share and we are going to hurt consumers’, it becomes greater motivation for consumers to vote with their feet and move somewhere else.”