The Australian Energy Market Commission has released a consultation paper on a proposed rule change from the Federal Minister for the Environment and Energy that would require retailers to notify customers before their energy discounts end. The proposed rule change also requires customers to be given information to help them find the best available energy deal.
This rule change proposal follows the Prime Minister’s recent discussions with retailers where a number of immediate and ongoing changes were agreed (see media release). The rule change will proceed under the expedited rule making process, with a final rule due in November 2017.
The proposed rule aims to encourage consumers to actively consider whether to stay on their existing contract when discount deals end. It proposes to do this by letting consumers know their deal is soon coming to an end, and giving consumers:
- information to compare the cost of their energy with and without the discount
- advice to compare their existing contract with other offers in the market
- advice on any early termination charges payable if the consumer switches to a new contract.
Subject to any objections to the expedited process, there will be only one round of consultation. Objections to the use of the expedited process must be lodged by 26 September 2017. Submissions on the rule change request are due by 10 October 2017.
Media: Prudence Anderson, Communications Director, 0404 821 935 or (02) 8296 7817