The Australian Energy Market Commission today invited stakeholder submissions on our approach to the 2016 Retail Competition Review and 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 2016 NEM-wide Retail Competition Review. This is the third 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. It also found that competition is more tempered in retail gas markets compared to electricity markets due to differences in market size, structure and design.
The AEMC’s second review, completed in June 2015, found that new retailer entry and declines in market concentration suggest markets are continuing to evolve and mature and that further developments are expected over time as this evolution continues and new technologies are taken up.
This third 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 our approach to this review and on the state of competition by Friday 4 December 2015.
The Commission’s final report is due to be published by 30 June 2016.
For more information visit the 2016 Retail Competition Review project page at www.aemc.gov.au