The Australian Energy Market Commission (AEMC) today announced a comprehensive review that puts consumers at the heart of future electricity pricing, products, and services.
The Electricity pricing for a consumer-driven future Review will examine how the rapidly evolving energy landscape can best serve all Australians in an era of increasing consumer energy resources (CER).
AEMC Chair Anna Collyer emphasised the importance of this forward-looking initiative.
''As we see more households adopting technologies like solar panels and batteries, it's crucial that our electricity pricing, products, and services evolve to meet changing consumer needs.
''This Review will take a fresh look at how we can deliver the best outcomes for all consumers across the electricity supply chain,'' she said.
The Review comes at a critical time, with studies estimating that effective integration of CER could deliver net benefits of up to $6.3 billion by 2040. Realising these benefits hinges on offering consumers the right mix of products and services.
“Effectively integrating CER resources into the wider energy system will help to reduce overall system costs, improve reliability, and achieve a secure, low-emission energy supply for all consumers.
“The key to achieving these benefits is offering consumers the right products and services, as well as clear information, choice, and appropriate protections,” Ms Collyer explained.
The AEMC's Review will consider market arrangements that provide consumers with a range of appropriate products and services, and prices to suit their needs and preferences. It will also examine the roles of distribution networks and retailers in enabling these offerings and ensuring efficient outcomes.
"We're not just looking at those who have adopted new energy technologies. This Review will consider how to deliver benefits and protections for all consumers, whether or not they have CER at home,'' Ms Collyer said.
The AEMC has released draft terms of reference for the Review and is inviting stakeholder feedback by Thursday, 22 August.
These submissions will inform the final terms of reference, to be published as part of a consultation paper by November 2024.
''We're committed to conducting this Review in an open and collaborative manner. Input from consumers, industry, and other stakeholders will be crucial in shaping a future electricity market that works for everyone."
The AEMC expects to release the final report in early 2026, providing a roadmap for a more consumer-centric, efficient, and sustainable electricity market. Visit the project page for more information and contact details.
Media: Jessica Rich, 0459 918 964, media@aemc.gov.au