This report aims to provide consumers with information about the energy market that would promote effective competition, to achieve the best outcomes for Victorian energy consumers.
Victorian Energy Market Report
Overview
The Victorian Energy Market Report aims to build consumer understanding of how the market operates.
This is our seventh annual Victorian Energy Market Report. The report aims to build consumer understanding of how the market operates.
Our latest annual report covering 2021–22 includes articles on:
- supporting energy consumers in payment difficulty – an update to the experiences of customers in payment difficulty, with the latest analysis and data to 30 June 2022.
- Victorian retail energy market performance – analysis of the impact of wholesale energy market events and increased price volatility experienced in 2022.
- energy retailers' compliance under the Victorian Energy Upgrades program – a summary of retailer compliance obligations under the program, which helps Victorians reduce their energy bills and greenhouse gas emissions by providing access to discounted energy efficient products and services through accredited providers.
- energy in Victoria: This section provides a summary of major activity across the energy sector in Victoria in the 2021–2022 year. This includes a summary of our compliance and enforcement actions, the experience of customers experiencing payment difficulty, and recent changes to the energy market.
We have also released our interactive Victorian Energy Market Dashboard, which provides a quick overview of key trends in the energy market.
2021–22 Victorian Energy Market Report
Key messages and findings
Wholesale costs have increased retail costs
Substantially higher wholesale electricity and gas costs in 2022 have increased energy retail costs.
The median electricity offer for Victorian households increased by 2 per cent in 2021-22, with a steeper rise of 6 to 8 per cent between January and September 2022. The price of residential gas offers increased by 19 per cent last financial year.
Consumer protections are more important than ever
These protections are particularly for Victorians who may be experiencing vulnerability. We maintained our focus on promoting and protecting the interests of energy consumers, while closely monitoring the financial viability of Victoria’s energy sector.
We proactively checked to make sure retailers were honouring their obligation to tell customers about their best offers. At the end of 2021–22 more gas and electricity customers on their retailer’s best offer than in the previous year.
We reviewed the payment difficulty framework, finding more customers are receiving appropriate assistance, and fewer customers have been disconnected compared to the peak levels of 2013–14.
Increased enforcement action
Equipped with additional powers and enforcement options, we took more enforcement action in 2021–22 than in any preceding year. Almost $6.5 million in penalties was paid by energy companies.
Victorian Energy Market Dashboard
With the 2021–22 Victorian Energy Market Report, we are also publishing the Victorian Energy Market Dashboard. The dashboard brings the data we previously published as Microsoft Excel tables into a more usable and interactive format. The graphs in the dashboard can be used to get a quick overview of key trends in the energy market.
The dashboard includes summaries of:
- customer numbers and types of contracts that customers are on
- customers receiving assistance to pay their bills, information on government concessions and utility relief grants
- customer service performance metrics such as call waiting times, abandoned calls and customer complaints
- disconnections for non-payment.
Previous reports
Victorian energy market report and updates in 2021-22
Data previously published as Microsoft Excel tables with our annual Victorian Energy Market Report is now available in a more usable and interactive format in our Victorian energy market dashboard.
Victorian energy market report and updates in 2020-21
Victorian energy market report and updates in 2019-20
30 November 2020
Note: The table names in this excel reference the figure numbers used throughout the report and the rest are supplementary tables. This uses the most up to date information from retailers and may differ from previous reports
(xlsx, 285.98 KB)
Victorian energy market report and updates in 2018-19
Victorian energy market report and updates in 2017-18
26 February 2019
This report provides a full summary of the Victorian energy market in 2017-18.
(PDF, 7.16 MB)
29 November 2018
This snapshot report provides a short summary of the Victorian energy market in 2017-18. This report has since been superseded by the Victorian Energy Market Report 2017-18.
(pdf, 737.14 KB)
21 December 2017
This update provides information on standard contract prices of Victorian gas retailers for 2017 – 18. This includes updated prices published by retailers on 8 and 15 December 2017.
(pdf, 287.46 KB)
Victorian Energy Market Report 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.