The AEMC has published the terms of reference and its approach paper for the 2014 retail competition review. The review will assess the status of competition in retail electricity and gas markets for small customers in all jurisdictions in the National Electricity Market (NEM).

This is the first review under a revised approach agreed by the Standing Council on Energy and Resources and the Council of Australian Governments, where the AEMC will assess competition in all NEM jurisdictions each year. These reviews support the commitment made by jurisdictions in 2004 under the Australian Energy Market Agreement to deregulate retail energy prices where effective competition can be demonstrated.

The AEMC has published an approach paper setting out how we will conduct the 2014 review. As part of this review, we are seeking stakeholder views on the level of competition in each jurisdiction. We are particularly interested in stakeholder responses to a series of questions set out in the approach paper published today. Submissions are requested by 28 February 2014.

The AEMC plans to meet with key stakeholders during the first quarter of 2014 to discuss the review and seek their input. This will include consumer groups, retailers, ombudsmen, pricing regulators and jurisdictional governments. In addition, we invite any stakeholders to contact the AEMC if interested in meeting to discuss any aspect of this review.