As part of its interim response to that review, the government has asked the commission to implement a number of recommendations 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.
The commission has kicked off the retail market review implementation by meeting with energy sector and community stakeholders to discuss the terms of reference and key milestones as well as releasing a consultation paper outlining a proposed approach to developing a reference price.
March 2018 – proposed approach for developing a methodology for a reference price
October 2018 – standards for customer bills finalised (taking effect no later than 1 July 2019)
January 2019 – new standards for marketing and finalised (taking effect no later than 1 July 2019)
July 2019 – new standards for bills and marketing take effect no later than this date
By end 2019 – review of our regulatory codes complete
By end 2019 – report on competitiveness and efficiency of the Victorian retail energy market