Consultation paper
On 13 October 2022, the Australian Energy Market Commission (AEMC) commenced a Review into the arrangements for failed retailers’ electricity and gas contracts (the review). On 18 November, the AER made a submission to the review, providing feedback on the AEMC’s proposals. More information on the review and AER's submission to the review can be found here.
Directions paper
On 11 May 2023, the AEMC released a directions paper as part of the failed retailer review. The directions paper set out a number of proposals towards lowering the cost of Retailer of Last Resort (RoLR) events for affected customers, while strengthening the security of the retail market.
On 10 July, the AER made a submission to the review, providing feedback based on its experience in managing RoLR events, including compliance and enforcement considerations.
Draft report
On 22 February 2024, the AEMC published a draft report, outlining ten draft recommendations to improve the Retailer of Last Resort (RoLR) scheme. The proposed recommendations will simplify and improve the RoLR scheme, better protect retailers who take on the failed retailer's customers and lower costs for consumers.
The AER made a submission to the draft report on 4 March 2024.