The Australian Energy Regulator (AER) has released a guidance note on performance reporting. The AER notes “Energy retailer performance data plays an important part in informing stakeholders and promoting confidence in the retail energy market in Australia.”
Section 282(1) of the Retail Law requires retailers to submit to the AER performance data in the manner and form as prescribed by, and by the due dates required by, the AER Performance Reporting Procedures and Guidelines (Guidelines). Where retailers are found to have breached their obligation, the AER may issue an infringement notice of up to $20,000 per breach, obtain a
court enforceable undertaking, or commence litigation. Company officers may also be liable for any breaches of the Retail Law.
Under the section ‘Our Expectations,’ the AER notes:
“We expect retailers to have appropriate data governance practices, systems and processes in place to collect, record, store, verify and report accurate data as required under the Retail Law and our Guidelines.
We expect retailers will review and test their systems and processes at regular intervals so they are fit-for purpose and retailers are satisfied that they can meet their Retail Law obligations by the required deadline.
When retailers submit their performance data to the AER, they attest that it has been prepared with all due care and skill and in accordance with the Guidelines. We expect that before making this declaration, retailers have satisfied themselves the data and information is accurate and in accordance with the
The guidance is available here.
There is a new reporting guideline that will come into effect from 1 January 2019. We recently conducted a webinar on this topic and if you would like to view it please get in touch.