This report provides information on the energy market to promote effective competition and achieve the best outcomes for Victorian energy consumers
Victorian Energy Market Report
Overview
The Victorian Energy Market Report aims to build consumer understanding of how the market operates.
Victorian Energy Market Report – September 2024
Key messages and findings
Wholesale prices drive retail price movements
Retail electricity and gas offers remain elevated in 2023-24 for residential and small business consumers.
- Residential customers faced higher electricity and gas prices. The median market offer increased by $180 for electricity and $33 for gas.
- Small business customers faced the largest price increases for electricity and gas. The median market offer increased by $1,465 for electricity and $2,623 for gas.
- Most electricity market offers are cheaper than the Victorian Default Offer.
- Smaller retailers offered the cheapest electricity and gas prices. They also offered some of the most expensive prices.
Customers experiencing payment difficulty
There were increases in the number of electricity customers accessing tailored assistance between April and June 2024.
- There were 73,327 electricity customers accessing tailored assistance, up 16 per cent compared to the same period last year.
- There were 60,476 gas customers accessing tailored assistance, up 14 per cent increase compared to the same period last year.
The report tracks energy retailer activity and consumer trends between April and June 2024, including articles covering:
Energy in Victoria (EiV)
- Compliance and enforcement activity – a summary of our compliance and enforcement actions between April and June 2024
- Wrongful disconnections – information about the number of self-reported wrongful disconnections, as well as total compensation paid to affected customers
- Customers experiencing payment difficulty – provides analysis of data and trends relating to customers who are experiencing payment difficulty
- Disconnections for non-payment – provides an update of data relating to customers who are disconnected for non-payment
- Market entry and exit – an update on licences granted, the regulatory sandboxing framework and electricity licence exemptions activity
Victorian Energy Market Dashboard
With the Victorian Energy Market Report, we also publish the Victorian Energy Market Dashboard. The dashboard brings the data we previously published as Microsoft Excel tables into a more usable and interactive format.
The dashboard offers graphical representations that provide a quick overview of the essential trends in the energy market. It includes summaries of customer statistics, such as the number of customers and the types of contracts they are on. Additionally, it provides information on customers receiving assistance for bill payments, government concessions, and Utility Relief Grants. The dashboard also presents customer service performance metrics, including call waiting times, abandoned calls, and customer complaints. Furthermore, it covers disconnections for non-payment.
The Victorian Energy Market Dashboard enhances accessibility and facilitates a comprehensive understanding of key insights within the energy market.
Previous reports
Victorian energy market report and updates in 2023-24
Victorian energy market report and updates in 2022-23
Data previously published as Microsoft Excel tables with our annual Victorian Energy Market Report is now available in a more usable and interactive format in our Victorian energy market dashboard.
Victorian energy market report and updates in 2021-22
Victorian energy market report and updates in 2020-21
Victorian energy market report and updates in 2019-20
30 November 2020
Note: The table names in this excel reference the figure numbers used throughout the report and the rest are supplementary tables. This uses the most up to date information from retailers and may differ from previous reports
(xlsx, 285.98 KB)
Victorian energy market report and updates in 2018-19
Victorian energy market report and updates in 2017-18
26 February 2019
This report provides a full summary of the Victorian energy market in 2017-18.
(PDF, 7.16 MB)
29 November 2018
This snapshot report provides a short summary of the Victorian energy market in 2017-18. This report has since been superseded by the Victorian Energy Market Report 2017-18.
(pdf, 737.14 KB)
21 December 2017
This update provides information on standard contract prices of Victorian gas retailers for 2017 – 18. This includes updated prices published by retailers on 8 and 15 December 2017.
(pdf, 287.46 KB)
Victorian Energy Market Report 2016-17
Victorian Energy Market Report 2015-16
Victorian Energy Market Report Updates: 2016-2017
Energy retail performance reports
These reports pre-date the Victorian Energy Market Report.