The peak body for energy retailers, the Australian Energy Council, has welcomed new consumer data that shows most households consider their power company is providing them with a value for money service.
While the announcement of lower regulated electricity prices is welcome news, customers have been urged to continue to shop around for even cheaper competitive deals from their energy retailer.
An independent report has predicted power bills will continue to fall as new generation capacity enters the National Electricity Market.
The Australian Energy Council has welcomed recognition of the assistance energy retailers have provided to customers impacted by COVID-19.
The latest independent review of the competitive retail market reinforces that electricity customers on market deals are enjoying significant savings compared to those on default offers.
As households and businesses continue to be impacted by the COVID-19 pandemic, energy retailers say a broader government and energy sector consideration is needed.
Giving consumers greater access to their energy data will help foster competition and assist households and businesses to get the most out of the competitive market, the energy industry said today.
The Victorian Government's support for households who may be struggling with their power bills is a welcome initiative and energy retailers stand ready to assist those having difficulties.
Following the release of the Statement of Expectations from the market regulator the Australian Energy Council (AEC) reconfirmed its members' commitment to assist customers experiencing financial distress.
The Australian Energy Council has welcomed the release of a new assessment of Victoria's electricity retail market that acknowledges the improvements undertaken by retailers.
The Victorian Default Offer (VDO) set by the Essential Services Commission and commencing on 1 January 2020 is a reasonable reflection of actual cost pressures on electricity retailers.
The Australian Competition and Consumer Commission's report into the retail electricity market reinforces that competitive market deals continue to offer the greatest value to consumers and that retailers have been responding positively to market changes.
Giving consumers greater access to their energy data will help foster further competition and help energy users get the most out of the competitive market, according to energy retailers.
The energy industry welcomes the introduction of a comparison tool that makes it easier to assess energy deals in the market.
The latest independent assessment of retail electricity markets has highlighted the ongoing value of competition and market deals in helping customers cut their energy bills, the energy industry said today.
Energy retailers said final prices for the Victorian Default Offer announced by the government today are closer to actual retailer costs than those proposed in the earlier draft, but noted that the vast majority of customers still remained better off on competitive market deals.
Energy retailers are fast tracking a voluntary comparison rate for power prices that will let households easily rank the best energy discounts in the market.
Reforms to the energy market must be properly considered, the energy industry said today.
Electricity retailers will work with the Victorian Government on the detail of the nine recommendations from the Thwaites Review it has accepted and welcomed the deferral of the proposals to introduce a basic service offer and abolish standing offers.
Competitive energy deals continue to provide the best value to households, the energy industry said today.
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