ACCC Report Highlights Benefits of Retail Competition

The Australian Energy Council (AEC) welcomes the ACCC’s latest report, which confirms that competition in the retail energy market is delivering benefits for customers.

The report shows households can save around $100 to $250 a year by moving off default offers, showing the benefits of an active market. It also highlights that more customers are shopping around, with those on their retailer’s best offer jumping from 19 to 27 per cent and the share on new plans rising from 29 to 42 per cent.

AEC Chief Executive Louisa Kinnear said the findings reinforce that the market is working as intended.

“The ACCC’s recommendations show that competition is delivering real outcomes, with customers who shop around able to access better deals.

“Shopping around remains one of the most effective ways customers can manage their energy bills and ensure they’re on the best deal available.

“The holiday season is an ideal time for customers to check whether they’re on the best market offer. We encourage consumers to use government comparison websites such as Energy Made Easy or Victorian Energy Compare to make sure they’re accessing the best deal available.”

About the Australian Energy Council 

The Australian Energy Council is the peak industry body for electricity and downstream natural gas businesses operating in the competitive wholesale and retail energy markets. AEC members generate and sell energy to 10 million homes and businesses and are major investors in renewable energy generation. The AEC supports reaching net-zero by 2050 and is committed to delivering the energy transition for the benefit of consumers.