We are seeking feedback on the proposed implementation approaches from the 2022 Review of the Competition and Consumer (Industry Code – Electricity Retail) Regulations 2019 (the Code).
The Code introduced the Default Market Offer (DMO) which sets the maximum price that retailers can charge consumers on default plans.
It also introduced the Reference Price which works as a benchmark that lets customers compare electricity plans using a single price.
The 2022 Review outcomes sought more consultation on three outcomes:
Options to amend the name of the Reference Price. This is to better describe its function and improves consumer understanding.
The application of the Reference Price to complex offers. This includes ensuring comparative advertising is available for complex offers.
How to extend price cap protection provided by the DMO to customers in embedded networks. This includes considering compliance issues and costs.
Your feedback will help us consider issues with proposed changes. We want to increase the Code’s effectiveness for consumers. We also want to minimise regulatory burden on energy retailers.
Please take the time to read the consultation document and previous submissions. This will ensure your feedback relates to only those three outcomes above.
To have your say, take our survey now, or please email electricitycode@dcceew.gov.au. Please submit your feedback by 21 April.
The department will run an information session in early April 2023. Please email electricitycode@dcceew.gov.au to reserve a spot and we will send you a Microsoft Teams link.
