This report is a guide on how the electricity and gas markets are performing. It aims to help customers piece together how the energy retail market works, and what they need to do to get the best out of it.
Victorian Energy Market Report
Read our latest update on the Victorian energy market
Our update provides important information about the Victorian energy market from July to December 2019 on areas such as:
- the price of energy offers available in the market as at 31 January 2020
- disconnections of energy customers for non-payment
- Our education campaign – It’s Your Energy
- new energy rules we have developed and are implementing
- how energy companies are complying and performing against their regulatory obligations.
- the new Victorian default offer rates
- newly licensed energy companies
Victorian Energy Market Update: March 2020
Our 2018-19 energy market report
Our latest annual energy market report provides a summary of the state's energy market in 2018-19.
Key findings of the report include:
- Average prices for electricity and gas offers stabilised, when all discount conditions are met
- One in three offers have no discounts, double the proportion from the previous year
- The number of offers with high discounts (30 per cent or more) decreased by 30 per cent
- 85 per cent of electricity customers were on discounted offers, with three out of four being ‘pay on time’ discounts
- Around one in five electricity customers missed their conditional discounts and paid on average $188 in additional costs
Payment Difficulty Framework - Electricity:
- Each month since 1 January 2019, an average of 64,508 customers received tailored assistance
- 55 per cent of customers entered a tailored assistance program with less than $500 in arrears (31 per cent previously under hardship programs covering electricity and gas) as they are receiving assistance earlier than in the past
- The average arrears for new participants who couldn’t cover their ongoing costs is $1,366
Payment Difficulty Framework - Gas:
- Each month since 1 January 2019, an average of 46,975 customers received tailored assistance
- 64 per cent of customers commenced a tailored assistance program with less than $500 in arrears as they are entering earlier than in the past
- The average arrears for new participants who couldn’t cover their ongoing costs is $1,042
Disconnections and utility relief grants:
- Residential and small business gas and electricity disconnections for non-payment reduced to 36,729 (down by 34 per cent) from 55,474
- 484 gas and electricity customers were wrongfully disconnected for non-payment (down from 502 in previous year)
- 29,108 utility relief grants paid to people who each received up to $650
- $350,000 in penalties paid by distributors for failing to notify customers of planned outages
- $340,000 in penalties paid by retailers
- 2.9 complaints per 100 electricity customers reported by retailers (same as previous year)
- 2.2 complaints per 100 gas customers reported by retailers (same as previous year)
- 55 seconds average wait time for customer calls to be answered (down from 88 seconds)
- Issued 23 new energy licences (four wholesale, three gas retail, four electricity retail, and 12 generation)
This report also covers average price changes in the energy offers available for residential and small business customers and provides an overview of our auditing activities.
Victorian Energy Market Report 2018-19
We regularly report on the performance of the Victorian energy market
Our Victorian Energy Market Report helps customers piece together key facts about the energy industry.
We provide updates on the energy market throughout the year.
These reports provide information on:
- compliance of energy licensees with the energy rules
- prices of electricity and gas retail offers throughout the year
- performance of energy companies in areas such as customer service and assistance for customers in payment difficulty.
We also publish the results of our audits of energy businesses, and the standard contract prices published by retailers.
Victorian energy market report and updates in 2019-20
Victorian energy market report and updates in 2018-19
Victorian energy market report and updates in 2017-18
Victorian Energy Market Report 2016-17
Licensed energy businesses audit fact sheets 2016-17
Victorian Energy Market Report 2015-16
Victorian Energy Market Report Updates: 2016-2017
Energy retail performance reports
These reports pre-date the Victorian Energy Market Report.