Market Review: Completed
The Australian Energy Market Commission released its final report for the third annual energy retail competition review on 30 June 2016. The review assessed the current state and possible future development of retail competition in electricity and gas markets in National Electricity Market jurisdictions.
The review found that competition in retail energy markets is becoming more dynamic and delivering new types of retail deals and services to consumers as the market transforms to give consumers greater control over how they manage and use energy. The Commission also found that there is a need to make it easier for customers to access the choices available to them.
Overall, retail competition remains effective for electricity markets in South East Queensland, New South Wales, Victoria, and South Australia. Electricity and gas retail competition is less effective in the Australian Capital Territory and effective competition is yet to emerge in Tasmania and regional Queensland. There is effective competition in retail gas markets in New South Wales, Victoria and South Australia.
The retail energy market competition reviews focus on residential and small business consumers and are based on the assessment of key market indicators. Our assessment has been informed by analysis of energy market data, quantitative and qualitative customer research, a survey of retailer views and stakeholder submissions. We considered information on the indicators collectively to form a judgement on the overall state of competition in each market.