Energy Retail Code review 2018 (fixed benefit periods)

‘Fixed benefit’ periods are a feature of some customer’s energy contracts. They are typically a set period of time during which a discount or benefit applies. For example, a 20 per cent discount for the first 12 months of a two year contract. 

In early 2018, we changed the Energy Retail Code so that energy retailers in Victoria must notify customers when any 'fixed benefit' periods change or end.

From February 1 2018, retailers in Victoria are required to notify customers when any fixed benefit periods change or end

We have made these changes to the Energy Retail Code so that customers know about upcoming changes to their benefits before they happen. This will provide customers with an opportunity to consider their options, including switching to a better offer. Under the changes, retailers are also required to remind customers they can compare energy plans by visiting the government’s Victorian Energy Compare website.

You can find more detail about these changes in our final decision, which is in line with our draft decisions. You can also read the submissions we received in response to the draft decision. We considered this feedback prior to releasing our final decision. 

We’re making this change in line with recent national updates

The Australian Energy Market Commission (AEMC) also changed the national energy retail rules to require retailers operating in other states to notify their customers of upcoming changes to their discounts or benefits. The AEMC made the change via its expedited rule change process, which means these changes took effect on 1 February 2018.