Media Contact
Carl Kitchen 0401 691 342
Dec 21 2017

Standing Offers Lower in Competitive Electricity Markets: Industry

The number of Australian households on electricity standing offers in competitive parts of the National Electricity Market has now fallen to 18.5 percent, the energy industry said today.

Across the NEM the total number of customers on standing offers is now 27.1 per cent.  The standing offer is the base default offer which retailers are required to provide where the customer has not signed on to a market offer.

The Australian Energy Council’s Chief Executive, Matthew Warren, said the data from the Australian Energy Market Commission highlighted that competition had led to a reduction in the number of households on less competitive standing offer contracts.

“In states with fully deregulated markets the increased number of competitors has led to a bigger reduction in the number of households on standing offers.

“Retailers have now committed to working with the Federal Government on a range of new measures to make it easier for consumers to find the best energy deal for them and assist vulnerable customers with their bills.”

Mr Warren said the industry was acutely aware of the impact of higher energy costs on consumers which only increased the importance of accessing the best retail energy deal.

“It is clear from the data that deregulation of markets and increased competition has seen more customers take up more competitive market contracts.

“Customers are in the driver’s seat.  Like any other competitive market when they engage they save.”

 

 1Only active retailers are include; 2 Regional Queensland has 723,000 customers, with nearly all on regulated offers. 3 NSW, VIC, SEQ, SA.  SOURCE: AEC Analysis of AEMC 2017 Retail Energy Competition Review Data

The Australian Energy Council has also released a Fact Sheet on retail energy bills.

About the Australian Energy Council

The Council represents 21 major electricity and downstream natural gas businesses operating in competitive wholesale and retail energy markets. These businesses collectively generate the overwhelming majority of electricity in Australia and sell gas and electricity to over 10 million homes and businesses.

 

Related News

News

Statement on Default Price Decisions 

The Australian Energy Regulator and Essential Service Commission's draft decisions on regulated power prices for 2024-2025 should act as an important reminder for households and businesses to shop around for better electricity deals, according to the peak body for electricity retailers.

Mar 19 2024
News

AEMO Plan Identifies Dispatchable Plant Deficit

The latest assessment of our energy system points to the urgency of getting sufficient firming capacity in place to back up the transformational injection of renewables into our grid, according to the peak body for energy retailers and generators, the Australian Energy Council.

Dec 15 2023
News

Electricity Sector Leads Decarbonisation Efforts

The electricity sector continues to do the heavy lifting in efforts to reduce Australia's carbon emissions and meet its climate targets, according to the peak body for electricity generators, the Australian Energy Council.

Nov 30 2023
GET IN TOUCH
Do you have a question or comment for AEC?

Send an email with your question or comment, and include your name and a short message and we'll get back to you shortly.

Call Us
+61 (3) 9205 3100