Victorian Energy Market report 2018-19

We’ve done a lot of work to better protect energy customers. What new rights and entitlements do energy customers have, and when will new entitlements start?

I want a fair price

 Since 1 July 2019, customers have had the option to switch to the Victorian Default Offer – a simple, independent and trusted electricity price.

Under new legislation, every Victorian household and small business (except if in an embedded network) can now ask their retailer to be switched to the default offer. 

The default is based on an independent assessment of the efficient costs retailers need to recover to provide electricity. 

If you were on a flat standing offer, before 1 July 2019 you were 
automatically put on the default offer. If you’re now on a standing offer that is not flat, or if you’re on a market offer, you can still ask your retailer to put you on the default offer if it’s a better deal. 

Electricity and gas retailers are now also required to tell if you are on their ‘best offer’ for you. They must include this information on your bills at least three times a year. If you’re not on the best deal for you, they must tell you how much you could save by switching.

Help when you need it

The payment difficulty framework came into effect on 1 January 2019.

Under this framework, retailers must give all customers access to flexible payments and support services. 

If you need help staying on top of your energy bills, retailers can:

• allow smaller payments more frequently
• change the frequency of payments
• delay payments of a bill or
• allow early payments where possible.

If you have unpaid bills and can no longer afford your energy, retailers must offer to put a pause on your debt payments for six months and reduce the full cost of your bill (which may be added to the amount you owe later). 

Retailers must also offer you a plan to pay off your bills; information about how to lower your energy usage; and provide advice on other assistance available, such as government-funded grants and energy 
concessions.

The power to know what you're getting

Since 1 July 2019, you have more rights than ever before to know what you’re getting for your energy deal, to compare it easily and get clear and helpful advice from your energy company. 

Retailers must now:

• give you at least five business days’ warning on any price or
• benefit changes that affect your bill
• this must also include their ‘best offer’ with information about how much you could save by switching to this offer
• provide energy fact sheets for all of their energy plans to allow you to easily compare information across different plans and retailers
• fact sheets should be on your retailer’s website or ask them to mail you 
• show GST inclusive pricing on all their energy plans to make it easier for you to compare offers allow you to provide a picture of your gas meter if you get an estimated gas bill, so they can provide a more accurate bill.