OnDemand WTP Pricing Research

Australia – New Pricing Rules For Electricity Retailers. | Conventus Law

On 1 July 2019, the Electricity Retail Code came into force in New South Wales, South-Eastern Queensland and South Australia introducing a new Default Market Offer (“DMO”) for electricity customers.  At the same time, Victoria introduced its own Victorian Default Offer (“VDO”) for electricity customers together with Deemed Best Offer, Clear Advice Entitlement and GST Inclusive Pricing rules for energy retailers.

WHAT YOU NEED TO KNOW – KEY TAKEAWAYS

  • The DMO and VDO requires retailers to offer customers a “default offer” that does not exceed a regulated price. The price is set annually by the Australian Energy Regulator (“AER”) (outside Victoria) and Essential Services Commission (“ESC”) (in Victoria).
  • Retailers may continue to offer other “market offers”, but must comply with new advertising rules, including obligations to frame prices and discounts by reference to the regulated prices, designed to make it easier to compare prices between retailers.

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Australia – New Pricing Rules For Electricity Retailers. | Conventus Law.

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