The Australian Energy Regulator (AER) has initiated the Retailer of Last Resort process that will facilitate the transfer of customers from electricity retailer Maximum Energy Retail Pty Ltd (trading as Circular Energy). The initiation of this process ensures a continued supply of essential energy services to these customers.
The AER applied the market safeguard after the company was suspended from trading in the National Electricity Market by the Australian Energy Market Operator (AEMO) for failing to comply with electricity wholesale market settlement requirements prescribed in the National Electricity Rules.
Maximum Energy’s suspension from trading in the National Electricity Market will take effect from 24:00 hours Australian Eastern Standard Time, 2 August 2024, impacting around 800 customers across Victoria and South Australia.
Customers are not required to take any immediate action.
Under the Retailer of Last Resort process, each customer will be transferred to one of Origin Energy, AGL or EnergyAustralia, who will contact them directly to explain the new arrangements.
Customers are under no obligation to remain with their new retailer once they are transferred.
Our frequently asked questions fact sheet explains more about the Retailer of Last Resort scheme for Maximum Energy customers. Further questions about the Retailer of Last Resort scheme can be directed to the AER at aerrolr
aer [dot] gov [dot] au (aerrolr[at]aer[dot]gov[dot]au).
Help for consumers to minimise energy bills in the current climate of higher wholesale prices is also available.
Background
The AER is responsible for overseeing the national Retailer of Last Resort scheme. Recent amendments to the National Energy Retail Law (Victoria) Act 2024 and the National Energy Retail Law (Victoria) Regulations 2024 give the AER the responsibility of managing Retailer of Last Resort events in Victoria, along with the National Energy Customer Framework regions (being Queensland, New South Wales, ACT, South Australia and Tasmania). This is the first RoLR event to occur under the new arrangements for Victoria.
The Retailer of Last Resort scheme is designed to ensure that in the event of retailer failure, arrangements are in place to ensure that customers continue to receive electricity and/or gas supply.
If an energy retailer fails, the AER has the power to transfer customers to a new retailer.