New Reporting Obligations Proposed for Energy Retailers
By Alex Silcock, Compliance Quarter Energy Consumers Australia (ECA) has requested amendments to the National Electricity Rules and National Energy Retail Rules to improve retail market transparency. The proposed rule change would require retailers to report of average prices, costs, revenues and margins to the Australian Energy Market Commission (AEMC). Reasoning The rationale for the proposed reporting obligations is to provide the AEMC with a complete picture of the margins of retailers participating in the market and this would assist in the delivery of its annual Retail Energy Competition Review. ECA cite comments made by the AEMC in its 2019 Retail Energy Competition review, along with recommendation 40 of the Australian Competition and Consumer Commission’s (ACCC) Retail Electricity Price Inquiry (REPI) in support of the rule change request. The AEMC…