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 provides insights and information about the Victorian energy market.
Victorian Energy Market Report – 2023–24
Key messages and findings
More customers faced financial stress in 2023–24
- Eight per cent of electricity and gas customers missed a bill payment each month in 2023–24. This was an increase of 18,000 electricity and 16,000 gas customers compared to 2022–23.
- Around five per cent of electricity and gas customers owed their retailer at least $300 each month in 2023–24. This was an increase of around 20,000 electricity and 14,000 gas customers compared to 2022–23.
- An average of 6,741 electricity and 6,026 gas customers stopped receiving tailored assistance each month in 2023–24 for not meeting payment plan requirements. This was an increase of 33 per cent for electricity and 46 per cent for gas.
- Customers’ ability to meet payment plan requirements vary widely across retailers. This may reflect differences in retailer practices or the diverse financial circumstances of customers.
More customers are accessing utility relief grants
- In 2023–24 the number of utility relief grants (URGs) approved increased by 19 per cent for electricity and 32 per cent for gas compared to 2022–23.
- Large retailers appear to have the most effective processes for supporting URG applications; small and medium sized retailers have more variable capability.
Enforcement actions
We accepted a court enforceable undertaking from AusNet Electricity Services Pty Ltd (AusNet) in April 2024 after Ausnet allegedly failed to provide required information to 255,000 customers during a storm event in February 2024.
- We issued penalty notices totalling just over $1.2 million to AGL Sales Pty Ltd (AGL) and CitiPower Pty Ltd (CitiPower) between October and December 2023. These notices related to alleged breaches of ‘best offer’ rules and planned supply interruptions.
- ReAmped Energy Pty Ltd paid $369,840 in penalties for allegedly failing to comply with best offer obligations in May 2024.
- $442,976 in compensation paid to 201 customers for self-reported wrongful disconnections in 2023–24.
The report tracks energy retailer activity and consumer trends during 2023–24, including articles covering:
Compliance under the Victorian Energy Upgrades program
Energy in Victoria (EiV)
- Compliance and enforcement activity – a summary of our compliance and enforcement actions during 2023–24
- Wrongful disconnections – information about the number of self-reported wrongful disconnections, as well as total compensation paid to affected customers
- 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.