CovaU has paid a $67,800 infringement notice after it allegedly failed to present its standing offer prices on its website between July 2021 and January 2023. The AER alleges, by not presenting these prices on its website in breach of section 23(1) of the National Energy Retail Law, CovaU undermined its customers’ ability to access and compare the energy offers available to them.
The AER has also accepted a court enforceable undertaking from CovaU which requires CovaU to appoint a third-party compliance expert to undertake a review to identify improvements to CovaU’s Retail Law and Rules compliance systems, and for a separate independent expert to complete a post-implementation review of the effectiveness of those improvements. The court enforceable undertaking includes an admission by CovaU that it breached its obligations under the Retail Law.
Letter to industry
On 6 December 2023, the AER sent a letter to retailers further publicising this enforcement outcome and reminding retailers of their obligations in relation to presenting standing offer prices. The letter also provides guidance to retailers on the AER's compliance expectations.