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 for the Australian Energy Regulator (AER) and the Essential Services Commission (ESC) in Victoria. It is important for retailers to engage with their billing and other service providers to ensure that all necessary data is collated and available for reporting, and to carefully review the relevant reporting guidelines to determine what information is to be reported and by when.
The AER has specific performance reporting requirements for retailers, as outlined in their Performance Reporting Procedures and Guidelines. These guidelines provide information on the reporting obligations for retailers, as well as the definitions of key terms and the required format for reporting. Retailers should pay particular attention to the reporting deadlines, as failure to provide complete and accurate information in a timely manner may result in penalties.
In addition to performance reporting, the AER also has compliance reporting requirements for retailers. The Compliance Procedures and Guidelines provide information on the types of incidents and breaches that must be reported, as well as the reporting process and timeframes. It is important for retailers to familiarize themselves with these requirements and to have robust processes in place to identify and report any incidents or breaches.
In Victoria, the ESC has also released updated Compliance and Performance Reporting Guidelines, version 7. These guidelines provide information on the reporting obligations for retailers with a Victorian licence, as well as the definitions of key terms and the required format for reporting. The updated guidelines include new reporting requirements, such as information on customer hardship programs and complaints handling.
Retailers should be aware of these reporting requirements and take the necessary steps to ensure compliance. Engaging with billing and other service providers and carefully reviewing the relevant guidelines will help retailers to prepare for the end of the reporting period and avoid penalties.
Recommendations:
- Appoint a person responsible for overseeing the collection of reporting data, to ensure that all necessary information is collected and available for reporting.
- Involve senior leadership in the reporting process, to ensure that reporting is given priority and that appropriate resources are dedicated to the task.
- Carefully review the relevant reporting guidelines to ensure a thorough understanding of the reporting obligations and requirements.
- Have robust processes in place to identify and report any incidents or breaches that must be included in compliance reports.
- Prioritize the timely submission of complete and accurate reports, to avoid penalties and maintain compliance.
Please consult the following websites and the documents linked therein:
- AER Performance Reporting: https://www.aer.gov.au/retail-markets/guidelines-reviews/performance-reporting-procedures-and-guidelines-retail-law
- AER Compliance Reporting: https://www.aer.gov.au/retail-markets/guidelines-reviews/compliance-procedures-and-guidelines
- ESC Compliance and Performance Reporting: https://www.esc.vic.gov.au/electricity-and-gas/electricity-and-gas-codes-guidelines-policies-and-manuals/compliance-and-performance-reporting-guideline
- CQ Article on the new ESC Guideline: https://www.compliancequarter.com.au/esc-compliance-and-performance-reporting-guidelines-version-7/
- CQ Article on the AER obligations: https://www.compliancequarter.com.au/compliance-reporting-to-the-australian-energy-regulator/
