ACCC report highlights challenges and opportunities for retail electricity market

ACCC report highlights challenges and opportunities for retail electricity market

AU Energy Compliance, NT Energy Compliance
In December 2023, the Australian Competition and Consumer Commission (ACCC) released its latest report on the National Electricity Market (NEM), covering the period from August 2022 to July 2023. The report examines the state of competition and consumer outcomes in the retail electricity market, the impact of the energy transition on the contract market and retailers' ability to manage financial risk, and the need for reforms to improve the conditions for competition and deliver better outcomes for consumers. Key findings and recommendations The ACCC report reveals that the market volatility and high prices experienced in mid-2022 have continued to affect retailers' costs and pricing strategies, as well as consumers' engagement and satisfaction. The report also finds that the contract market is undergoing significant transformation as the NEM shifts to more…
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