The Australian Energy Regulator has released their options paper as part of their review into consumer protections in rapidly changing energy market. We are pleased to see the proposed three models in the review paper aim to address this change, and at times propose ambitious steps away from the status quo to consider consumer protections in a new light. It’s a positive step in recognising that what we have now will not work in a future energy market.
However, in our view, there is still some way to go. How we might regulate new and existing energy businesses is only one part of a much larger challenge to ensure a holistic and robust consumer protections framework. This framework needs to go beyond purely regulating supplier conduct and ask businesses to actively consider and deliver good outcomes for the diversity of consumer needs.
- Demonstrates the need for an outcomes-based approach to a future consumer protections framework
- Outlines why Model 1 and 2 do not go far enough to protect consumers in a future energy market
- Provides provisional support to a framework based on Model 3 and suggests a number of potential improvements.
Read our full submission here