Rule Change: Not Initiated
On 27 November 2014 the AEMC received a rule change request from Mr Donald Lloyd to amend the National Energy Retail Rules (retail rules). The request seeks to prohibit retailers from increasing prices in market retail contracts in certain circumstances.
The Commission decided not to initiate the rule change request because the subject matter of the rule change request relates to the subject matter of a rule made in the preceding 12 months. That new rule, the National Energy Retail Amendment (Retailer Price Variations in Market Retail Contracts) Rule 2014 No. 1, comes into effect on 1 May 2015.
The new rule will require retailers to improve the information they give to consumers when they enter energy contracts. It clarifies that retailers must tell consumers if prices can change during their contracts and provide clear disclosure on when consumers will be notified about price changes.