The Australian Energy Regulator (AER) today published a report into retail performance for the January to March 2024 quarter.
The report shows median market offer prices for electricity are decreasing compared to the previous quarter in DMO regions (New South Wales, South Australia and South East Queensland).
However, data this quarter indicates customers are still finding it challenging to meet energy costs, with both the proportion of residential customers with energy debt and the average energy debt per customer increasing compared to the same quarter in 2023.
The report also found that since this quarter last year, more residential electricity and gas customers accessed hardship programs. However, the average debt on entry to a hardship program has decreased.
The proportion of residential customers on an electricity payment plan has remained constant since the same quarter last year, however the proportion of customers on a gas payment plan has slightly increased.
The market share of Tier 2 retailers continued to incrementally increase in both electricity and gas markets.
The AER is currently reviewing payment difficulty protections in the National Energy Customer Framework, with the goal of ensuring that consumers experiencing payment difficulty are proactively identified, engaged early and supported appropriately with assistance that is tailored to their individual circumstances.
We are also continuing to advocate for the proposed game changer reforms, which were presented to Energy and Climate Change Ministers in November 2023.
These proposals aim to ensure that consumers get the concessions to which they are entitled, that hardship customers pay no more than they need to, and that access to energy efficiency improvements, debt relief and financial counselling is improved through a shared funding pool.