The Australian Energy Market Commission today invited stakeholder submissions on the state of competition in retail energy markets in the ACT, New South Wales, Queensland, South Australia, Tasmania and Victoria.
Stakeholder feedback will be considered as part of the Commission’s 2015 NEM-wide Retail Competition Review. This is the second annual review carried out for the Council of Australian Governments’ Energy Council to support the commitment made by all states and territories in 2004 to deregulate retail energy prices where effective competition can be demonstrated.
The AEMC’s first NEM-wide review was carried out in the first half of 2014 and found effective competition in retail electricity markets in South East Queensland, New South Wales, Victoria, and South Australia. This review helped inform the Queensland Government’s decision to deregulate electricity prices in South East Queensland from 1 July 2015.
The 2014 review also found that competition is more tempered in retail gas markets compared to electricity markets due to differences in market size, structure and design.
This second review provides an opportunity to check whether there have been any significant changes in the competitiveness of energy retail markets over the last twelve months.
Stakeholders are invited to respond to a series of questions on the state of competition set out in the approach paper by Thursday 19 February 2015. The approach paper published today also confirms the assessment framework for the 2015 Retail Competition Review, which was the subject of consultation in November this year.
The Commission’s final report is due to be published by 30 June 2015.
For more information visit the 2015 Retail Competition Review project page at www.aemc.gov.au