SYDNEY, June 20 (Xinhua) -- Australia's peak consumer protection body, the Australian Consumer and Competition Consumer (ACCC), has released an inquiry into the nation's electricity market in response to fears of misconduct during the nation's ongoing energy crisis.

       During the first weeks of June, a cold snap in Australia's eastern states coupled with energy production shortfalls saw wholesale electricity prices surge up to 20 times normal rates.

       The ACCC probe announced on Monday that it would assess whether energy retailers were inflating prices during this period or otherwise engaging in anti-competitive conduct.

       "Under direction from the federal government, we will use our full information gathering powers to provide greater transparency around the factors influencing electricity and gas prices, including profits and margins from a wide range of energy companies," said ACCC Chair Gina Cass-Gottlieb.

       Based on the findings of the inquiry, the ACCC would bring the government's attention to the need for any regulatory changes to protect Australian consumers, Cass-Gottlieb said, adding that they are scheduled to release their final report to the government in July.

       She said that Australians who are worried about growing energy bills should keep up to date with their plan and shop around for the best deal available to them.

       As the severity of the energy crisis reached its peak last week, households were urged to reduce their energy consumption during peak hours amid threats of the need for load shedding across the grid.

       Last week, the Australian Energy Market Operator (AEMO) made an unprecedented decision to intervene and suspend the operation of the National Electricity Market until conditions stabilize.

       Cass-Gottlieb said the crisis has been the result of a confluence of both domestic and international factors.

       "There is no doubt that international factors have heavily impacted the global gas supply and prices. A cold start to winter and reliance on aging coal-fired power stations amplified challenges already facing the Australian energy market."