Amaysim’s Click Energy resolves ACCC litigation

Company News

by Rachael Jones

Amaysim Australia (ASX:AYS) today announced that the proceedings brought by the Australian Competition and Consumer Commission (ACCC) against Click Energy have been resolved.

Amaysim owns Click Energy.

It was agreed that Click Energy contravened Australian Consumer Law in relation to statements it made about discounts and savings that consumers in Victoria and Queensland could obtain on its energy products.

The Federal Court ordered a penalty of $900,000 and for Click Energy to take a number of steps such as displaying a message on its website and contacting affected customers.

The penalty does not impact the company’s FY19 full year underlying EBITDA guidance.

Shares in Amaysim Australia (ASX:AYS) are trading 0.79 per cent higher at 64 cents.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.