Our main role in the retail market is in setting regulated electricity prices in regional Queensland.
In south east Queensland, the Queensland Government deregulated electricity prices for customers, effective from July 2016. We monitor the retail electricity market when directed by the government to do so. Our reports cover retail prices, discounts fees and other topics the government asks us to report on.
The retail electricity market
Electricity retailers purchase electricity from the wholesale market, pay for transportation services and sell the combined product to homes and businesses. Since the introduction of full retail competition in mid-2007, electricity consumers in south east Queensland have been able to choose their electricity retailer.
Consumers in south east Queensland are able to shop around for the best electricity deal and around 85% are currently supplied under a market contract. However, competition is limited in the rest of Queensland and most regional and rural consumers continue to be supplied by Ergon Energy under a standard contract. This is because Ergon Energy receives a subsidy to ensure that consumers in higher-cost regional and rural areas pay the same regulated prices as consumers in lower-cost south east Queensland. In most cases other retailers cannot offer a better deal to consumers than Ergon Energy provides, because they do not receive this subsidy.
To ensure consumers’ rights are protected, retailers must adhere to the National Energy Customer Framework, administered by the Australian Energy Regulator, which places a number of obligations on their behaviour. These obligations relate to matters such as marketing conduct, the type of information retailers are obliged to give to consumers and minimum contract terms and conditions.
To make finding the best deal easier, the Australian Energy Regulator has a fully independent price comparator called Energy Made Easy, which compares all energy offers in the market. Whether you want the cheapest price, frequent flyer points or contribute to the health of the environment, most customers can find a better deal in minutes. Find out how much you can save.
Do you have a complaint about your electricity retailer? See who can help.