We have started work to implement key recommendations from an independent bipartisan review of electricity and gas retail markets in areas including bills and marketing, competitiveness and regulatory codes.
Electricity and gas retail markets review implementation 2018
In 2017, the Victorian Government responded to an independent bipartisan review of electricity and gas retail markets in areas including bills and marketing, competitiveness and regulatory codes.
After announcing its support for a majority of the review's recommendations, the government has asked us to implement a number of them, including:
- Bills and marketing - setting new standards for bills and marketing material to help customers navigate the energy market more effectively
- Competitiveness review - developing and applying a framework for reporting on competitiveness and efficiency in the market. The framework is to include a reference price for assessing competitiveness
- Code review - undertaking a review of our regulatory codes to ensure they focus on customer outcomes, in accordance with the review's recommendations.
Our work on bills and marketing will include setting new standards for bills and marketing materials, with the aim of helping customers navigate the energy market more effectively.
Our work on recommendations relating to competitiveness in the energy industry includes developing a reporting framework and reference price.
- March 2018 – consultation paper outlining proposed approach to developing a methodology for a reference price
- October 2018 – standards for customer bills finalised
- March 2019 – new standards for marketing finalised
- 3 May 2019 - final recommendation for Victorian Default Offer delivered
- 1 July 2019 - Victorian Default Offer implemented for all retailers
- July 2019 – new standards for bills and marketing take effect
- By end 2019 – review of our regulatory codes complete
- By end 2019 – report on competitiveness and efficiency of the Victorian retail energy market
- 1 July 2020 - new standards for contract terms come into effect
Stakeholder reference group
We have established a stakeholder reference group to assist us with this work.
The purpose of the group is to obtain a variety of perspectives, insights and knowledge to inform the work program and to ensure we understand the concerns and issues the sector and consumers face.
Participants in the reference group were recruited via an expression of interest. Membership includes the following organisations:
- Australian Energy Council
- Brotherhood of St Laurence
- Consumer Law Action Centre
- Energy and Water Ombudsman (Victoria)
- Monash University
- Onsite Energy Solutions
- Red Energy / LUMO Energy
- St Vincent de Paul Society
- Victorian Council of Social Service.
In addition to these members, we have invited observers representing the following:
- Australian Energy Regulator
- Department of Environment, Land, Water and Planning
- Department of Health and Human Services.
We regularly publish our meeting minutes.
Stakeholder reference group resources
How to stay up to date with these projects
To stay up to date, contact us at firstname.lastname@example.org to register your interest. You can also check our website or follow us on Twitter or LinkedIn for the latest information. Alternatively, call us on (03) 9032 1300 to discuss how you can have your say on these energy market reforms.