Working out how much your household would pay on a particular energy deal would be easier under new rules being considered by the state’s energy regulator following a government review.
The proposed changes are designed to make it easier for households to shop around for a better energy deal under the latest changes arising from the 2017 Victorian government review of the retail energy market.
The Essential Services Commission is looking for feedback on plans to make retailers give a fact sheet to customers who are looking for a new deal, so they can work out if the deal is right for them.
The commission’s director of energy, Sarah McDowell says the proposed fact sheet would replace two existing pieces of information.
“The current price and product information statement and the offer summary would be replaced with a single fact sheet showing what typical households, based on how many people live there, would pay over a year,” she said.
She says it would also help Victorian energy customers compare energy plans.
“They’ll be able to see how their household compares so they can make the right decision about the best energy deal for them,” she said.
The proposed rule changes would also make it easier to avoid bill shock by mandating when customers can have bills adjusted based on a self-meter read, in line with recent changes to the national framework.
The latest proposal is the second set of reforms arising from the 2017 government review which found even knowledgeable consumers have trouble navigating the market.
In October 2018, the commission finalised new rules requiring energy retailers to tell customers whether they’re on that retailer’s best plan for them, and how to switch if they’re not. Those reforms will take effect from mid-2019.
Interested stakeholders can send submissions on the latest proposed changes to RetailEnergyReview@esc.vic.gov.au by 5pm on Friday 5 February 2019.
