ReAmped Energy pays nearly $370k for best offer failures

ReAmped Energy Pty Ltd (ReAmped Energy) has paid $369,840 in penalties for failures related to ‘best offer’ obligations that affected 3,149 customers between 1 August 2022 and 30 June 2023.

The penalties follow a court enforceable undertaking that was accepted by the commission last month for the same conduct.

Under Victoria’s energy consumer protection framework, energy retailers are obligated to tell customers how much they could save by switching to the best energy plan the retailer offers. Known as a ‘best offer’ message, this information must be shown on an electricity customer’s bill at least once every 3 months.

ReAmped Energy failed in its best offer obligations to customers when it did not identify the customer’s best offer (including by failing to have regard to Victorian Default Offer tariffs), incorrectly calculated the best offer, or did not provide a best offer message frequently enough.

Commissioner Sitesh Bhojani said the imposition of penalties alongside the court enforceable undertaking reflects the seriousness with which the commission treats the best offer obligations of Victorian energy retailers.

“ReAmped Energy failed to take into account the Victorian Default Offer when it calculated some customers’ best offer messages. In doing so, ReAmped Energy denied those customers important consumer protections designed to help them get the best deal.

“In accepting a court enforceable undertaking from ReAmped Energy the commission sought to ensure ReAmped Energy identified and reimbursed as many affected former customers as possible.

“This additional financial penalty ought to reassure consumers and energy retailers alike that the commission remains committed to our 2023-24 compliance and enforcement priority to help customers engage confidently in the energy market by ensuring they receive clear information to make informed decisions.”

Former ReAmped Energy customers who were affected between 1 August 2022 and 30 June 2023 have until 24 April 2025 to make a claim and can find out how through the ReAmped Energy website.

If you are unable to resolve an issue directly with ReAmped Energy you can contact the Energy and Water Ombudsman of Victoria on 1800 500 509 or visit www.ewov.com.au.