Mackay Chapman August 2025 ACCC Update

In this month’s ACCC update:

• Power bank recalls surge over serious burn and fire risks
• ACCC grants conditional authorisation for national energy communication service
• ACCC authorises collaboration on sustainable finance initiatives
• Cyclone reinsurance pool lowers premiums, but affordability remains a challenge

Keep reading for more information and key details.
‍

Power bank recalls surge over serious burn and fire risks

The ACCC has warned consumers about a growing number of power bank recalls due to risks of overheating, fire, and burn injuries. 

Since 2020, 17 different power bank models have been recalled, nine of these in the last 16 months alone, affecting around 34,000 units still in consumers’ hands.

Most incidents happen while charging phones or other personal devices, increasing the risk of injury or property damage. Consumers are urged to stop using recalled power banks immediately and follow recall instructions to receive a refund or replacement.

Safety tips:

• Use the correct charger and keep devices in cool, dry places
• Never charge on flammable surfaces like beds or carpets
• Avoid using damaged, overheating, swollen, or leaking power banks
• Set timers to unplug devices when fully charged
  ‍

ACCC grants conditional authorisation for national energy communication service

The ACCC has authorised Energy Networks Australia, Synergy, and other specified parties to implement a national public key infrastructure (PKI) service. 

This service will manage secure communication between consumer energy resources such as rooftop solar cells, batteries, and electric vehicles, and the wider energy grid.

The ACCC is satisfied that the public benefits of this conduct outweigh any likely public detriment. The authorisation requires that the NEPKI board include independent directors with significant experience across the consumer energy resources, electricity market, and original equipment manufacturer sectors.

Additionally, the authorisation includes a condition for regular reporting on NEPKI’s operations. 

This authorisation is granted until 30 June 2030.
‍

ACCC authorises collaboration on sustainable finance initiatives

The ACCC has granted conditional authorisation for the Australian Sustainable Finance Institute (ASFI) and industry participants to collaborate on sustainable finance projects for five years. 

This includes sharing information, co-designing investment products, and developing regulatory reform proposals to support sustainable farming, meet export regulations, and reduce emissions.

The ACCC encourages sustainability collaborations and offers legal protection through its authorisation process when competition risks arise. ASFI is a voluntary group of financial sector and civil society members focused on sustainable finance, supported by a government grant for projects in the Indo-Pacific.

Interim authorisation was granted in March 2025, with this final authorisation effective for five years.
‍

Cyclone reinsurance pool lowers premiums, but affordability remains a challenge

The government’s cyclone reinsurance pool is helping reduce insurance costs in high-risk cyclone areas, with premiums dropping around 11% for homes and 24% for small businesses. Places like Mackay, Cairns, and Townsville have seen notable savings.

However, insurance is still expensive. Home premiums in northern regions often exceed $3,000 to $4,600 a year, and strata insurance costs continue to rise. Insurers blame rising building costs and extreme weather, and many people are cutting coverage or going uninsured.

While the pool aims to encourage more coverage and risk reduction efforts, insurer participation and communication on mitigation remain limited.

The ACCC will keep monitoring the situation as the government reviews the scheme later this year.

‍

The contents of this article do not constitute legal advice and it is not intended to be a substitute for legal advice and should not be relied upon as such.  It is designed and intended as general information in summary form, current at the time of publication, for general informational purposes only.  You should seek legal advice or other professional advice in relation to any particular legal matters you or your organisation may have.