A crackdown on energy prices is coming and shares in power companies are getting beaten up

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Shares in utilities AGL and Origin Energy fell sharply after the consumer watchdog, the ACCC, revealed a plan to shrink high electricity bills across Australia.

A short time ago, AGL was down 7.4% to $21.065 and Origin 4.3% to $9.65.

The ACCC today released a plan for change in the power industry aimed at cutting the power bills of Australian households.

The Retail Electricity Pricing Inquiry report identifies the root causes of high electricity prices across Australia and makes 56 recommendations to fix the National Electricity Market.

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