AER: new default market offer, monitoring and reporting work

“The Australian Government yesterday announced a range of measures in relation to retail electricity prices and market monitoring.

These include the AER establishing a default market offer for electricity prices as recommended by the ACCC’s Retail Energy Prices Inquiry (link is external). The intention is that all retailer discounts will be set against the default market offer, making it easier for consumers to genuinely compare retail electricity plans.

The ACCC and AER will receive over $30 million in funding to implement the package of measures, which also includes ACCC monitoring and reporting on prices, profits and margins in the supply of electricity in the National Electricity Market.”

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