We are setting new standards for bills and marketing materials to help customers navigate the energy market more effectively.
Electricity and gas retail markets review implementation 2018 (bills and marketing)
Final decision (best offer)30 October 2018
Final decision (fact sheet)21 March 2019
Final technical decision (fact sheet)May 2019
Consequential amendments to the Energy Retail Code
We have released a draft decision that clarifies how the Victorian Default Offer will interact with our new rules which will come into effect on 1 July 2019.
We invite interested stakeholders to contribute their views by making a submission in response to this draft decision in writing to email@example.com by 5pm Wednesday 22 May 2019.
We have allowed for a shorter consultation period for this draft decision given the discrete changes proposed and recognising that the VDO is to be made available to customers from 1 July 2019.
New rules to help customers navigate the energy market more effectively
In response to recommendation 3 from the independent retail market review we are implementing a suite of reforms that help customers engage confidently and build trust in the retail energy market that will apply from 1 July 2019.
We have released both a final high-level decision and technical final decision on information disclosure and marketing that introduces a new Victorian energy fact sheet to help customers easily compare energy plan information.
The new rules will also promote transparency in the market by keeping customers informed of changes that affect their bills and whether they could access a better offer from their retailer. Retailers will also present prices inclusive of GST to make it easier to compare offers between retailers. The final decision for these reforms was released in October 2018.
Fact sheets for consumers
All plans will have a fact sheet that shows the expected average yearly cost of the plan for a number of typical households.
Clear advice before you sign a new energy deal
Retailers will help customers navigate to a product that best suits their circumstances.
'Best offer' information for energy consumers
Retailers must tell customers on their bill whether they're on the best energy plan and how much the customer could save by switching, at least quarterly for electricity bills, and at least every four months for gas bills.
Prior warning of bill changes
Retailers will be required to notify customers at least five days prior to price or benefit changes that will affect the customer's bill. When they do this, energy retailers must include a 'best offer' message telling customers whether a cheaper plan is available, and how much the customer could save by switching.
Customer read estimates
Customers that receive an estimated bill will be able to request an adjustment to their bill by submitting a self-read of their meter prior to the bill due date.