Building a Compliance Culture: Why It Matters and How to Achieve It
A strong compliance culture is essential for any business to operate ethically and efficiently while avoiding legal and regulatory issues. A compliance culture means that compliance with laws, regulations, policies, and ethical standards becomes ingrained in the way a business and its employees think and behave. It ensures that compliance is not just a matter of checking boxes for mandatory training but is fully integrated into the organisation’s DNA.
Environmental and sustainability claims: Draft guidance for business
The ACCC recently released draft guidance on environmental and sustainability claims to help businesses understand their obligations under the Australian Consumer Law (ACL) and best practice when making such claims. The draft guidance aims to encourage truthful and accurate claims, decrease instances of ‘greenwashing’, and assist consumers in making informed choices.
AER Draft Guidance including emission reductions in energy objectives
The Australian Energy Regulator (AER) has released draft guidance on how it proposes to implement the amended National Electricity Objective (NEO) and National Gas Objective (NGO) to include consideration of emission reductions. The amendments to the NEO, NGO and National Energy Retail Objective are expected to be passed by the South Australian parliament in September 2023.
AER Releases Annual Compliance and Enforcement Report: Focus on Supporting Vulnerable Customers and Efficient Energy Markets
The Australian Energy Regulator (AER) recently released its Annual Compliance and Enforcement Report for 2022–23, outlining its activities over the past year to monitor and enforce compliance with Australia’s national energy laws and rules. A key focus has been on supporting vulnerable customers, including those experiencing financial hardship. The AER has also acted to support the efficient operation of competitive energy markets through monitoring compliance of generators, gas pipelines and retailers.
AER Releases Issues Paper on Reviewing Retail Performance Reporting Guidelines
The Australian Energy Regulator (AER) has released an issues paper for consultation on potential changes
to the AER (Retail Law) Performance Reporting Procedures and Guidelines. The guidelines specify how energy retailers report data on their performance to the AER.
ACCC Insights on Electricity Bills and Affordability
The ACCC’s latest report on its Inquiry into the National Electricity Market provides unique insights into the electricity bills faced by customers across New South Wales, South Australia, South East Queensland, and Victoria. The ACCC’s findings demonstrate how different energy plans, tariffs and contracts can impact consumers’ bills.
Key points from Executive Board Member Geoff Summerhayes’ speech to the Financial Services Assurance Forum- Lessons for Energy Sellers
Cyber threats are accelerating and evolving rapidly. The COVID-19 pandemic has led to a surge in online activity and remote working, providing more opportunities for cyber criminals to attack. While there have been no major cyber breaches of banks, insurers or super funds yet, it is only a matter of time. Boards and internal audit functions often lack understanding and expertise in cyber security, leaving organisations vulnerable.
Reminding Scheme Participants of Their Compliance Obligations
As participants in the NSW Energy Savings Scheme (ESS) and Peak Demand Reduction Scheme (PDRS), you have various obligations you must meet to comply with the schemes. This article provides an overview of the key compliance obligations and includes guidance and quotes directly from IPART’s Compliance Guide – Scheme Participants to remind you of what is required.
Clare Savage Outlines AER’s Consumer Protection Priorities Through Australia’s Energy Transition
Australian Energy Regulator (AER) Chair Clare Savage recently outlined the regulator’s consumer protection priorities for 2023-2024 during her address at the 2023 Australian Energy Week conference. Savage acknowledged the challenging times facing the energy sector with the twin themes of the accelerating energy transition and increasing cost of living pressures affecting consumers.
Managing the Transition: Balancing Competing Tensions
This is the first of a series of posts reflecting on Energy Week 2023. Daniel Westerman, Chief Executive Officer of the Australian Energy Market Operator (AEMO), recently delivered a speech at Australian Energy Week 2023 on the theme of managing the tensions inherent in Australia’s energy transition.
Australian Government Proposes National product stewardship scheme for solar photovoltaic systems and small electrical and electronic equipment
The Australian Government has released a discussion paper outlining their proposal for a national regulated product stewardship scheme for solar photovoltaic (PV) systems and small
Submission: Review into the arrangements for failed retailers’ electricity and gas contracts
Compliance Quarter has urged the Australian Energy Market Commission (AEMC) to reconsider a proposal that would require all retailers to provide an ‘all assets’ security interest as a mechanism to increase the likelihood of cost recovery from failed retailers. In a submission to the AEMC’s review of the Retailer of Last Resort scheme, Compliance Quarter said that mandating such a security interest would likely increase financing costs for retailers and act as a barrier to new entrants in the market.
Revisiting Financial Hardship Obligations in NECF
As interest rates continue to climb so too does the risk of electricity customers being placed in a position where they are not able to pay their bills on time. ‘Hardship’ can be experienced by anyone and everyone, whether you are working full time or rely on government support. Energy retailers in NECF have a range of obligations in relation to hardship and, as we move towards winter bills, should be reviewing their existing processes to ensure that they are providing the best support possible to those customers facing payment difficulties.
Draft Decision Signals Stronger Consumer Protections for Small-Scale Energy Customers
Late last year, the Essential Services Commission of South Australia (Commission) released its Draft Decision on improving consumer protections for small-scale energy network customers. The decision applies in relation to small-scale energy networks regulated exclusively by the Commission. There are approximately 11,000 customers in these networks in remote and regional South Australia. The Commission’s final decision is likely to be made in the coming weeks.
New Code Sets Standards for Energy Transmission Companies Accessing Private Land
The Essential Services Commission (ESC) has released a draft Land Access Code of Practice to regulate how energy transmission companies access private land when undertaking new projects or significant upgrades. The code will be critical as we see new transmission projects emerge to support the energy transition.
AER Prioritises Consumer Protection and Market Transparency
The Australian Energy Regulator (AER) released its Compliance and Enforcement Priorities for 2023-24, outlining key focus areas for monitoring and enforcing compliance in Australia’s energy markets over the next year. The priorities aim to protect consumers, especially those experiencing vulnerability, enable competitive markets, and support efficient infrastructure.
Amendment of the Market Price Cap, Cumulative Price Threshold and Administered Price Cap
The National Electricity Market (NEM) is going through a significant transition. A large proportion of existing coal-fired generation is approaching retirement, requiring replacement by new
Billing Rules for Energy Retailers Operating in NECF
Energy retailers must follow strict rules when issuing bills to their customers. These rules aim to ensure customers receive accurate and understandable bills, while also receiving prompt and fair adjustments when billing errors occur.
Privacy Awareness Week (PAW) 2023-24
What is Privacy Awareness Week (PAW)? Privacy Awareness Week is an annual event held in Australia by the Office of the Australian Information Commissioner (OAIC)
Understanding the New Energy Tech Consumer Code – A Guide for Clients
Introduction The New Energy Tech Consumer Code is a voluntary code that sets minimum standards for retailers in the new energy technology market. The Code
A Guide to AER’s Minimum Disconnection Threshold
In this article, we provide a detailed overview of the Australian Energy Regulator’s (AER) 2017 decision on the minimum disconnection amount for energy customers. Background
Better Bills Guideline Version 2: What Retailers Need to Know
The Better Bills Guideline (Version 1) was published on 31 March 2022 and set out requirements for energy retailers to prepare and issue bills to
Embedded Network Action Plan – New South Wales
The Embedded Network Action Plan sets expectations for embedded network operators to better engage with their customers. This comes after reviews and inquiries found that
IPART review into Embedded Networks in NSW
The Independent Pricing and Regulatory Tribunal (IPART) has been requested by the Hon. Victor Dominello MP, Minister for Customer Service, to investigate and report on
Navigating the NERL: A Guide for Authorised Retailers on Transferring Customers Without Consent
Transferring customers without their explicit informed consent (for more on EIC – click here) is a breach of the National Energy Retail Law (NERL) and
Navigating the NERR: A Guide for Energy Retailers on Payment Plans for Hardship Customers
Retailers must comply with the National Energy Retail Rules when establishing payment plans for customers experiencing financial hardship. This includes having regard to the customer’s capacity to pay, any arrears owing by the customer, and the customer’s expected energy consumption needs over the following 12 month period.
Navigating the NERL: Disconnection Restrictions for Energy Retailers
Disconnecting energy supply to a customer is a serious matter and should only be done in accordance with the relevant laws and regulations. In NECF
An approach to Understanding New Regulatory Obligations
Understanding new regulatory obligations can be a daunting task for any organization. It is important to be aware of all applicable laws and regulations, both
Energy Sector Data Compliance: A Guide to Navigating the New Era of Transparency and Accountability
As the world continues to shift towards a more sustainable and efficient energy sector, the importance of responsible data management has become increasingly apparent. The
Conduct Risk: A New & Emerging Risk For Energy Businesses
What is Conduct Risk Conduct risk refers to the risk that a company’s employees, agents, or contractors may engage in behaviour that is inappropriate, unethical,
Looking to work in a Compliance Role? Here is what is involved.
The day to day role of a Compliance Officer is multi-faceted. On a typical day, they will monitor operational processes and procedures using a compliance management platform to ensure that the company complies with all legal regulations and ethical standards. They will manage the information flow by researching, recording and analysing data and information. This is an important part of their role as it helps them identify and manage regulatory risk.
Resources for existing and aspiring energy retailers: Financial Model
Compliance Quarter is excited to announce the first of several new resources available for existing and aspiring energy retailers, including those looking to obtain an
How do I find my Director ID number? (CALL 13 28 61)
NEED HELP? CALL 13 28 61 We are not a Government Department, if you are looking for your Director ID, read this article, do not
Unlock the Power of Energy Data Sharing with the Consumer Data Right for Energy Retailers
With the introduction of the Consumer Data Right (CDR) in the energy retail sector, retail businesses and consumers will have access to valuable insights. The CDR allows energy retailers to gain a deeper understanding of their customer base and devise strategies to serve them better. In this article, we explore the potential of the CDR and how it can benefit energy retailers.
Avoiding the Pitfalls of Single System Dependence: Lessons from the JP Morgan Incident
In today’s fast-paced business environment, companies often rely on a single system or process to ensure quality oversight and control. However, this can lead to
Disclosure obligations of energy retailers
Today we take a fresh look at the disclosure obligations of energy retailers before or as soon as practicable after they contract with a customer
A Compliance Function: Do we need it?
Compliance is the process of ensuring that an organisation adheres to the relevant rules, regulations, or laws applicable to their business. Compliance is a critical component of any successful business, as it helps to ensure that the company is operating legally and ethically. It is also important for businesses to protect themselves from potential liability in the form of fines and regulatory/political scrutiny.
AER report into the suspension of the spot market in June 2022
The AER’s report into the June 2022 events is an important part of understanding the behaviour of the market and identifying potential improvements to ensure
Energy Retailers End of Year Reporting Obligation: AER and ESC
As the end of the calendar year approaches, energy retailers in Australia should be aware that this also marks the end of a reporting period
AEMO Suspends Two Retailers
On Wednesday, the Australian Energy Market Operator (AEMO) issued two separate notices suspending Mojo Power and QEnergy from all trading in the National Electricity Market, effective midnight on Tuesday night. The reasons for the suspension were not stated. Later that day, AEMO lifted the suspension orders for both retailers.
How to select an external compliance partner
When it comes to choosing a compliance partner, there are a few key factors to consider. It is important to ensure that the partner you choose has the necessary experience and qualifications to meet your needs, as well as the capacity to work with you on a personal level. Additionally, the partner should have the necessary project management capacity and service level agreements (SLAs) in place to ensure that the project is completed on time and to the highest standards.
What is a ‘Social Licence’ and why is it critical that businesses understand this term
In essence, a social licence is an agreement between a business and its stakeholders and the wider public. It is based on the understanding that the business is not just meeting its legal obligations but also taking into account the interests of its stakeholders, its impact on the community and environment, and its role in the wider society. It is earned through responsible behaviour, transparency and accountability.
An overview of the Australian electricity market
The electricity market in Australia is an important and complex system that plays a significant role in the national economy. It is comprised of a mix of private and public sector stakeholders, each of whom has a different role to play in the functioning of the market. In addition, the market is regulated by a number of government agencies and regulatory bodies to ensure that it operates in the best interests of consumers. In this, the first of a series, we will introduce the key market participants.
Consumers: front and centre of energy regulation
As the energy market continues to evolve and the ways in which energy is produced, stored, shared and consumed become ever more complex, it is
Family Violence obligations in NECF States
Background On 15 September 2022, the Australian Energy Market Commission (AEMC) introduced new regulatory protections for customers impacted by family violence. These rules allow family
Reviewing Compliance Controls
As a business, having effective controls in place is essential to ensure compliance. Compliance is a fundamental part of any organisation, and failure to meet
AER releases latest Wholesale Markets Quarterly
The Australian Energy Regulator (AER) has published its latest wholesale markets quarterly report that looks at the wholesale gas and electricity markets in the period
Protected: A revised Network Exemptions Guideline
There is no excerpt because this is a protected post.
Reconsidering the DMO
The Australian Energy Regulator (AER) has published the Default Market Offer 2023-24 Issues Paper. In the context of unprecedented wholesale energy prices, the Issues Paper makes interesting reading and is going to be closely examined by energy retailers and other participants.
Mandatory Data Breach Reporting and Planning
Failing to plan is planning to fail when it comes to data security and breach responses. In this post, we examine the regulatory obligations of entities under the notifiable data breach (NDB) scheme. Specially, we examine when reporting is mandatory and what the features of a broader effective response plan are.