The Australian Energy Market Commission (AEMC) completed its annual energy retail competition review on 30 June 2015. The review assessed the state of competition in retail electricity and gas markets in the National Electricity Market. This is an annual review under the approach agreed by the COAG Energy Council.
The review found that consumers are seeing greater choice and opportunities to save on their energy costs as competition evolves over time.
The review found that retail competition remains effective for electricity markets in South East Queensland, New South Wales, Victoria, and South Australia, although less effective in the Australian Capital Territory and is yet to emerge in Tasmania and regional Queensland.
Competition continues to be more tempered in gas retail markets where there are fewer retailers operating in a smaller market than for electricity. Gas market competition is effective in most of Victoria, NSW and South Australia, but limited in South East Queensland. Effective competition is yet to emerge in the ACT, Tasmania and regional Queensland.
The AEMC drew from a range of information sources, gathered up to the first quarter of 2015, to form an evidence base to assess the state of competition in each market. These sources include submissions to our consultation and approach papers, quantitative customer research, retailer surveys and data provided by Ombudsmen, retailers, jurisdictional regulators, the Australian Energy Regulator and Australian Energy Market Operator.