Recommendations and insights
Concerns over rising electricity prices and market concentration within the National Electricity Market led to the ACCC being tasked with investigating the competitiveness of retail electricity prices and supply.
In its final report released in July 2018, the ACCC found that the National Electricity Market is not functioning effectively and that extensive reform is required to bring down prices and restore consumer confidence. The ACCC made 56 significant recommendations aimed at boosting competition in generation and retail markets, lowering supply chain costs and improving consumer and business experiences and outcomes.
The first half of 2019 has seen significant progress towards implementing some key recommendations put forward by the ACCC. Notably, the Energy Security Board and Australian Energy Regulator have been tasked with undertaking detailed review regarding the implementation of key recommendations and appropriate strategies to assist in achieving the goals of the inquiry. We will be tracking the status of such reviews and exploring the opportunities and challenges they present for energy customers, retailers, generators and investors.