澳洲全國(guó)電力市場(chǎng)調(diào)查-2023年6月報(bào)告-Inquiry into the National Electricity Market

InquiryintotheNationalElectriInquiryintotheNationalElectriMarketcity2June2023TheACCCacknowledgesthetraditionalownersandcustodiansofCountrythroughoutAustraliaandrecognisestheircontinuingconnectiontotheland,seaandcommunity.Wepayourrespectstothemandtheircultures;andtotheirElderspast,presentandfuture.AustralianCompetitionandConsumerCommission23MarcusClarkeStreet,Canberra,AustralianCapitalTerritory,2601?CommonwealthofAustralia2023Thisworkiscopyright.InadditiontoanyusepermittedundertheCopyrightAct1968,allmaterialcontainedwithinthisworkisprovidedunderaCreativeCommonsAttribution3.0Australialicence,withtheexceptionof:.theCommonwealthCoatofArms.theACCCandAERlogos.anyillustration,diagram,photographorgraphicoverwhichtheAustralianCompetitionandConsumerCommissiondoesnotholdcopyright,butwhichmaybepartoforcontainedwithinthispublication.ThedetailsoftherelevantlicenceconditionsareavailableontheCreativeCommonswebsite,asisthefulllegalcodefortheCCBY3.0AUlicence.RequestsandinquiriesconcerningreproductionandrightsshouldbeaddressedtotheDirector,ContentandDigitalServices,ACCC,GPOBox3131,CanberraACT2601.Theinformationinthispublicationisforgeneralguidanceonly.Itdoesnotconstitutelegalorotherprofessionaladvice,andshouldnotbereliedonasastatementofthelawinanyjurisdiction.Becauseitisintendedonlyasageneralguide,itmaycontaingeneralisations.Youshouldobtainprofessionaladviceifyouhaveanyspecificconcern.TheACCChasmadeeveryreasonableefforttoprovidecurrentandaccurateinformation,butitdoesnotmakeanyguaranteesregardingtheaccuracy,currencyorcompletenessofthatinformation.Partieswhowishtore-publishorotherwiseusetheinformationinthispublicationmustcheckthisinformationforcurrencyandaccuracypriortopublication.Thisshouldbedonepriortoeachpublicationedition,asACCCguidanceandrelevanttransitionallegislationfrequentlychange.AnyqueriespartieshaveshouldbeaddressedtotheDirector,ContentandDigitalServices,ACCC,GPOBox3131,CanberraACT2601.ACCC06/23.auExecutivesummaryThisreporthighlightstheveryearlyimpactsofthewholesaleelectricitymarketconditionsexperiencedinmid-2022andcapturesmedianbillingoutcomesandeffectivepricesfacedbyresidentialandsmallbusinesselectricityconsumersacrossNewSouthWales,SouthAustralia,SouthEastQueensland,andVictoria.Wealsoconsidertheimpactofgovernmentrebates,wherethishassignificantlyimpactedbillingoutcomes,andexaminepricesfacedbycustomersondifferenttarifftypes.Wehaveanalysedthebillsfacedbyeightdifferentcustomercategoriesaccordingtowhethertheyareonahardshipprogram,apaymentplanorreceiveaconcession,oracombinationofthese.Inadditiontoourhistoricalbillingdata,wealsoanalysedataoncurrentlyavailableoffersintheretailmarket,forbothstandingandmarketoffers.Thisanalysisprovidesinsightintopricescurrentlyavailabletonewandswitchingcustomers,foraforward-lookingmeasureofconsumerbills.Thirdquarterelectricitybillsincreasedbetween2021and2022OuranalysisshowsamodestincreaseinmedianbillsacrossNewSouthWales,SouthAustralia,andVictoria,forbothresidentialandsmallbusinesscustomers.MedianbillsforsmallbusinesscustomersinSouthEastQueenslandalsoincreased.However,residentialcustomersinSouthEastQueenslandaretheexception,withthemedianbilldecliningduetotheimpactoftheQueenslandGovernment’sCostofLivingRebateforHouseholdsof$175.Comparingourmostrecentquarter,thethirdquarterin2022,withthesamequarterin2021,acrossallregionscombined,themedianresidentialbillincreasedby2.7%.Theresultsvariedbystate,withmedianresidentialbills:.increasinginNewSouthWalesby6.4%,reflectinganincreaseinmedianeffectivepriceoffsetbyareductioninmedianusage.increasinginSouthAustraliaby9.1%,reflectinganincreaseinboththeeffectivepriceandusage.increasinginVictoriabyonly0.6%,reflectinganincreaseineffectivepriceandadecreaseinusage.decreasinginSouthEastQueenslandby20.4%,reflectingaloweffectivepriceduetotheQueenslandGovernmentpayingthe$175CostofLivingRebateforHouseholdstohouseholdsinthethirdquarterof2022andasmallincreaseinusage.Asthemajorityoftherebatewasappliedtobillsinthethirdquarterof2022,thequarterlyresultsforSouthEastQueenslandarenotanindicationoftheannualbillimpactexperiencedbycustomers.Acrossallregionscombined,thethirdquartermediansmallbusinessbillincreasedbetween2021and2022by13.1%.Theresultsvariedbystate,withmediansmallbusinessbills:.increasinginNewSouthWalesby19.5%,reflectinganincreaseinboththemedianeffectivepriceandmedianusage.increasinginSouthAustraliaby7.6%,reflectinganincreaseinboththeeffectivepriceandusage.increasinginVictoriaby10.1%,reflectingadecreaseineffectivepriceandalargeincreaseinusage.increasinginSouthEastQueenslandby3.0%,reflectinganincreaseineffectivepriceandadecreaseinusage.WholesalemarketconditionstaketimetoflowthroughtobillsTheincreasesinelectricitywholesalemarketpricesexperiencedinmid-2022willcontinuetoputupwardpressureonbills.However,changesinretailers’coststaketimetoflowthroughtoretailpricesand,evenmorebelatedly,actualbillingoutcomesexperiencedbyconsumers.Underlyingmarketconditionsarenotimmediatelyvisibleinbillingoutcomesforseveralreasons:.Customersarebilledinarrears.ThisreportfocussesonbillssenttocustomersfromJulytoSeptember2022.Onlyaproportionoftheconsumptioncapturedinourbillingsamplewillincludepriceincreasesfrom1July2022..Elevatedspotandcontractpricesarestillflowingthroughtoretailers’costs:retailerhedgecontractsarenegotiatedinadvanceforfutureperiodsandtaketimetoexpireandbereplaced..Retailersmaynotchangepricesforexistingcustomersatthesametimeorratetheychangetheirgenerallyavailablepricesfornewcustomers.Notallrebatesandconcessionsarepaidviaelectricityretailersand,dependingonthejurisdictionandthetypeofrebate,aresometimespaiddirectlytoconsumersviaelectronicfundstransfer.Asaresult:.Ifapplieddirectlytoelectricitybills,rebatesandconcessionsfromgovernmentsreducemedianbillsandmedianeffectivepricesinouranalysis..Equally,notallrebatesbyalljurisdictionsarecapturedinourreportedbillingoutcomes.HigherwholesaleelectricitycostswillimpactbillsWholesaleelectricitycostsareanimportantdriverofretailelectricitypricescontributing,onaverage,28%tothetotalaveragecostperresidentialconsumerin2021–22.1Pricesinbothspotandhedgingcontractmarketsdeterminethewholesalecoststhatflowthroughtocustomerbills.Whiletheproportionofelectricitypurchaseddirectlyfromthespotmarketvariesbetweenretailers,mostretailers’wholesalecostsareprimarilydeterminedbyhedgingcontractprices.Inmid-2022,theNationalElectricityMarket(NEM)experiencedsomeofthelargestwholesalespotpricespikesinitshistory.Theexpectationinfinancialmarketsthatspotpricevolatilitywouldpersistledtosteepincreasesinhedgingcontractpricesforfutureperiods.1AustralianCompetitionandConsumerCommission(ACCC),InquiryintotheNationalElectricityMarket:November2022report,ACCC,AustralianGovernment,2022,p72.WholesalemarketconditionshaveeasedsinceourNovember2022reportreflecting,atleasttosomeextent,governmentinterventionsinenergymarkets.TemporarypricecapsoncoalandgaswereintroducedinDecember2022,aspartoftheEnergyPriceReliefPlan,aimedatmitigatingtheimpactsofenergypriceincreasesonconsumersandbusinesses.However,spotandcontractpricesremainrelativelyhighbyhistoricalstandards.Despitesomeeasingofconditionsmorerecently,highspotandhedgingcontractpricesduring2022arestillflowingthroughtoretailers’wholesalecosts.Hedgingcontractsforelectricitysuppliedin2022werelikelypurchasedin2020or2021whenpriceswerelower.Hedgingcontractssignedin2022,whenpriceswerehigher,willflowthroughtoretailers’wholesalecosts,thencustomerbills,in2023andbeyond.Assuch,weexpecttheresultinghigherpriceswillcontinuetoincreasebillsoverthisperiod.Inresponse,federal,stateandterritorygovernmentsareprovidingupto$3billioninelectricitybillreliefthroughtheEnergyBillReliefFundthatwill,in2023–24,offsetsomeoftheimpactofthehigherpricesonbillsforeligiblehouseholdsandsmallbusinesses.EligiblehouseholdsinNewSouthWales,QueenslandandSouthAustraliawillreceivea$500rebateandVictorianhouseholdswillreceive$250(andwillalsobeeligibletoreceive$250underthePowerSavingBonus).Similarly,smallbusinessesinthosestateswillreceiverebatesrangingfrom$325to$650.2Pricesforneworswitchingcustomersincreasedin2022Ourbillingdatasethelpsusunderstandactualpricespaidinarrearsbycustomersatagivenpointintime.However,toprovideacompleteandcurrentpicture,wealsoanalysedataoncurrentlyavailableoffersintheretailmarket,forbothstandingandmarketoffers.Thisdatafocusesonpricescurrentlyavailabletonewcustomers,orthosecustomersseekingtoswitchretailers.However,changesinpricesofavailableoffersdonotreflectchangesinbillstoexistingcustomers.Rather,thisanalysisprovidesaforward-lookingmeasureofconsumerbills.Formarketoffers,pricesrosesharplyinmid-2022andremainaround17%higheracrossallregions,onaverage,thantheywereinearly2022.Weexpectmarketofferpriceswillcontinuetoincrease.StandingofferpricesareincreasingStandingofferpricesforcustomersestablishedbytheDefaultMarketOfferandVictorianDefaultOfferaresettoincreasefrom1July2023.TheAustralianEnergyRegulatorandEssentialServicesCommissionofVictoriahavedeterminedthatDefaultMarketOfferandVictorianDefaultOfferpriceswillincreaseby21%to27%from1July2023forresidentialsingleratecustomerswithoutcontrolledload.3Approximately10%to15%ofresidentialcustomersand20%ofsmallbusinesscustomersacrossNewSouthWales,Victoria,SouthEastQueensland,andSouthAustraliaareon2DepartmentofClimateChange,Energy,theEnvironmentandWater,EnergyBillReliefFund,.au,n.d.,accessed10May2023.3EssentialServicesCommissionofVictoria(ESCV),VictorianDefaultOfferpricereview2023-24,ESCV,VictorianGovernment,2023,accessed25May2023;AustralianEnergyRegulator(AER),Defaultmarketofferprices2023-24,AER,AustralianGovernment,2023,accessed25May2023.standingoffers,withtheremainderonmarketoffers.Forthesecondyearinarow,therewasanincreaseintheproportionofcustomersonstandingoffersin2022,drivenbyincreaseduptakeinVictoria.TheproportionofVictorianresidentialcustomersonstandingoffersincreasedfrom7.7%in2021to12.0%in2022,whiletheproportionofVictoriansmallbusinesscustomersonstandingoffersincreasedfrom14.9%in2021to21.4%in2022.CustomersreceivinggovernmentsupportIncreasingelectricitybillsareasignificantcost-of-livingissue.Someresidentialcustomersreceivesupportfromtheirelectricityretailer,and/orconcessionssubsidisedbythegovernment,topaytheirelectricitybills.Customersonapaymentplanorahardshipprogramwhoreceivednofurthersupporthadthehighestmedianelectricitybillsinthethirdquarterof2022,representingapproximately$164morethanthemedianbillsofresidentialcustomerswhoreceivednosupport.Thiswasconsistentwithhighermedianelectricityusage,particularlybyhardshipcustomerswithoutfurthersupportwhohavethehighestmedianelectricityusageofallcustomergroups.Customerswithaconcessionwhodidnotreceiveanyfurthersupportcontinuetopaythelowestmedianbillsandhavethelowestmedianelectricityusage.Paymentplancustomersandresidentialcustomerswhoreceivednosupportcontinuedtopaysimilarmedianeffectiveprices(approximately28c/kWh)inthethirdquarterof2022.Hardshipcustomerswithaconcessionandhardshipcustomersonapaymentplanwithaconcessionpaidthelowestmedianeffectivepricesinthesameperiodatnearly20c/kWh.SouthAustraliahadthehighestmedianeffectivepricesforallcustomergroupsinthesecondquarterof2022(rangingfrom25to35c/kWh).SouthAustraliancustomerswithallprotections(hardshipcustomersonapaymentplanwithaconcession)facedhighereffectivepricesinthesecondquarterof2022thancustomersreceivingprotectionsinallotherregions.ForcustomersonaconcessioninSouthAustralia,highereffectivepricesmayinpartbeduetoconcessionpaymentsbeingprovidedasageneralpaymentdirecttocustomers,ratherthanbeingapplieddirectlytoacustomer’selectricitybill.Cost-reflectivetariffsmayreducebillsforsomeMoreresidentialandsmallbusinesscustomersareonelectricityplanswithtime-of-useordemandtariffs.Thesetariffsmorecloselyreflectthecostsincurredbyretailerstosupplyelectricityandaredesignedtoincentivisehouseholdstoconsumeelectricityinoff-peakperiodswheredemandforelectricityislower.Cost-reflectivetariffscanleadtobettereffectivepriceoutcomesforconsumerswhentheyareabletouseelectricityoutsideofpeakperiods.However,thepriceoutcomesforcustomersoncost-reflectivetarifftypescanvarysignificantlydependingontheirindividualusageprofile.Thisisespeciallythecasefordemandtariffs,whichhaveademand-basedvariablechargeinadditiontousagecharges.Ouranalysisofbillingdatashowsresidentialcustomersondemandtariffscanbenefitfromlowereffectivepricesiftheyrespondtothenegativeincentiveofhighdemandchargesandeffectivelymanagetheirdemandinpeakperiods.However,customerswhoarenotabletomanagethetimeandintensityoftheirelectricityusageareatriskofhigherbills.TheACCCisconcernedthattherapidadoptionofcost-reflectiveretailtariffsmaydisproportionatelyimpactsomeconsumers.PlanswithdiscountsarenotnecessarilybetterOuranalysisshowsthatcustomersonenergyplanswithconditionaldiscountspaysimilarpricestocustomersonenergyplanswithoutconditionaldiscounts.Customersneedtobeawareofconditionalandunconditionaldiscountsassociatedwiththeirelectricityplan.Somediscountsandincentivesmayonlybeone-offorlimitedtoaspecificperiodoftime(suchas12months).Thismeanssomeenergyplanswithdiscountsareinitiallycheaperbutmaycostmoreinthelongerterm.UndertheNationalEnergyRetailLaw,retailersarerequiredtonotifycustomerswhendiscountsareabouttochangeorexpire.4Thisisanimportantpointintimeforcustomerstotestthemarketandseeifabetterofferisavailable.SolarcustomerssaveWhileinstallingsolarpanelsusuallyrequiresanupfrontinvestment,customerswithsolarpanelshavelowerelectricitybillsbyreducingtheirgridelectricityconsumptionandexportingexcesselectricitytothegridinexchangeforsolarfeed-intariffcredits.However,effectivesolarfeed-intariffratesdeclinedbetween2021and2022inallregions.Whenchoosinganenergyplan,customerswithsolarpanelsshouldcompareenergyplansusingtheirhistoricalelectricityconsumptionandsolarexportvolume.Theenergyplanwiththehighestsolarfeed-intariffmaynotalwaysbethebestplanoverall,asitmayincludehighersupplyandusagechargesthanotherplans.4SeeNationalEnergyRetailAmendment(Notificationofendoffixedbenefitperiod)Rule2017No.2.ContentsExecutivesummary 11.Introduction 72.Currentconditionsinelectricitymarkets 113.Choosingtherightenergyplan 234.Thirdquarterelectricitybillsincreasedbetween2021and2022 465.Residentialcustomersreceivingsupporttopaytheirbills 59AppendixAOuranalysis 74AppendixBConcessionsandrebates 90AppendixCDefinitionsfordatacollection 103AppendixDTermsofreferencefortheinquiry 106AppendixEDataappendix(Excelspreadsheetdownload)1.IntroductionIn2018,theAustralianGovernmentdirectedtheAustralianCompetitionandConsumerCommission(ACCC)toholdaninquiryintoprices,profits,andmarginsinthesupplyofelectricityintheNationalElectricityMarket(NEM).Underthetermsofreferencefortheinquiry,theACCChasabroad-rangingresponsibilitytomonitormattersintheNEM,includingelectricitypricesfacedbycustomersandtheeffectsofpolicychanges.Whereappropriate,theACCCwillmakerecommendationstogovernmentonnecessaryactionsandregulatorychangestodelivercompetitiveandefficientelectricitypricesforconsumers.5TheACCCmustreporttoTreasuryatleastevery6monthsuntiltheconclusionoftheinquiryon31August2025.ThisistheACCC’sfourthreportonelectricitypricesfacedbycustomers,buildingonourMay2022,May2021,andSeptember2020interimreports.WealsoexaminedretailelectricitypricesinJune2018inourreportRestoringElectricityAffordabilityandAustralia’sCompetitiveAdvantage,aspartofanearlierinquiryintoretailelectricitypricing.6Wehavealsoseparatelyreportedonretailercostsandelectricitymarketwholesalecontracts(hedging).71.1.OurroleinelectricitymarketsAsendusersintheelectricitysupplychain,consumers’electricitybillsareanimportantindicatorofhowwellwholesale,retailandfinancialelectricitymarketsarefunctioning.Competitiveelectricitymarketsareessentialfordeliveringcostreflective,reliable,andsustainableenergytoAustralianconsumers.TheACCC’sroleinelectricitymarketsisinthecontextoftheCompetitionandConsumerAct2010,whichaimstoenhancethewelfareofAustraliansthroughthepromotionofcompetitionandfairtradingandtheprovisionofconsumerprotections.8TheCompetitionandConsumerActestablishestheframeworksunderwhichtheACCCconductspriceinquiries,includingthisinquiryintotheNEM,andmonitorsandenforcescompliancewithindustrycodes,includingtheElectricityRetailCode.9TheACCCalsoenforcescompliancewiththeAustralianConsumerLawundertheCompetitionandConsumerAct.TheCompetitionandConsumerActincludesgeneralprohibitionsonanti-competitiveconductandspecificprovisionsdesignedtopreventmisconductinenergymarkets10,includingarequirementonretailerstomakereasonableadjustmentstotheirpricestoreflectcostreductions.11TheACCCisalsoempoweredtomonitorandprotectcompetitioninmarketsandtotakeactiontoensureconsumersaretreatedfairly.5SeeAppendixC.6SeeAustralianCompetitionandConsumerCommission(ACCC),Retailelectricitypricinginquiry2017–18,ACCCwebsite,n.d.,accessed20April2023.7SeeAustralianCompetitionandConsumerCommission(ACCC),Electricitymarketmonitoringinquiry2018–25,ACCCwebsite,n.d.,accessed20April2023.8CompetitionandConsumerAct2010s2.9CompetitionandConsumer(IndustryCode–ElectricityRetail)Regulations2019.10CompetitionandConsumerAct2010ptXICA.11CompetitionandConsumerAct2010s153E.1.2.AboutthisreportIncreasesinelectricitybillsareasignificantcost-of-livingissue.Energyisessentialtopeople’slivesandwellbeing.Thisreportexamineshowelectricitypricesfacedbycustomerschangedin2022,inthecontextofhighwholesaleelectricitypricesandconcernsaboutcost-of-livingpressures.Specifically,thisreportexaminescurrentmarketconditionsandcustomerbillingdata.Thisreportdemonstratesthechangeinbillsuptolate2022,showingtheinitialimpactsfromthewholesalemarketdisruptionin2022,onretailerpricesandsubsequentlyconsumerbills.However,weexpectthattheimpactofhigherpriceswillcontinuetoflowintobillsthroughout2023and2024.Priceimpactscanbedelayedbecause:.Customersarebilledinarrearsduetothebillingcycle.12ThisreportfocusesonbillssenttocustomersfromJulytoSeptember2022.Onlyaproportionoftheconsumptioncapturedinourbillingsamplewillincludepriceincreasesfrommid-2022..Elevatedspotandcontractpricesarestillflowingthroughtoretailers’costs:retailerhedgecontractsarenegotiatedinadvanceforfutureperiodsandtaketimetoexpireandbereplaced..Retailersmaynotchangepricesforexistingcustomersatthesametimeorratetheychangetheirgenerallyavailablepricesfornewcustomers.Publishingbillinganalysisprovidesstakeholderswithaccurateinformationonthepricesfacedbycustomersandisnotavailablefromothersources.Itismoreaccuratethanotherproxymetrics.Thereare2typesofcustomerretailcontractsundertheNationalEnergyRetailLawandVictorianEnergyRetailCodeofPractice:.standardretailcontracts,andInthisreport,weoftenusetheterms‘standingoffer’torefertostandardretailcontractsand‘marketoffer’torefertomarketretailcontracts.InMay2022,theQueenslandGovernmentannouncedthatitwouldissuea$175rebatetoassistwiththeadditionalcostoflivingpressuresfacedbyhouseholdsinQueensland.ThisrebatewasappliedtoQueenslandhouseholdelectricitybillsbetweenSeptember2022andNovember2022.OuranalysisconfirmsthattheQueenslandrebatewaseffectiveinreducingthebillsofSouthEastQueenslandresidentialcustomersinthethirdquarterof2022.However,theQueenslandrebatealsohadbroaderimplicationsonthebillingoutcomesidentifiedinouruniquedataset.Whenanalysiswasconductedonallregionscombined,thesizeoftherebateissuchthatthesecombinedresultsaremateriallyinfluencedbytheQueenslandrebate,especiallyinthethirdquarterof2022.12AppendixAdescribesthebillingcycleindetail(seeMetering,consumption,andbillingcycles).Wenotethatthisrebatedoesnotimpactthepriceoutcomesreportedforsmallbusinesscustomers.Chapter2providesinformationoncurrentmarketconditions(uptoMarch2023),usingpubliclyavailabledatafromindependentgovernmentpricecomparisonwebsites,includingEnergyMadeEasyandVictorianEnergyCompare,andtheAustralianSecuritiesExchange(ASX)andAustralianEnergyMarketOperator(AEMO)websites.Chapter2updatesinformationpublishedinourNovember2022reportandcomplementsandprovidescontexttoourcustomerbillinganalysis.Retailelectricitybillsnormallyincludedifferentcomponents,suchasarangeofcharges,rebates,andadjustments.Thiscanmakeitdifficulttocompareelectricitybillsandprices.Ouranalysisofpricesfacedbycustomersgenerallyuseseffectiveprice(c/kWh),calculatedastotalcharge($)dividedbyusage(kWh).Effectivepricetakesusageintoaccountandshowstheunderlyingpricesthatcustomersfaceovertimeandacrosscustomergroups.Typically,ouranalysisinchapters3,4and5willpresentresultsfrom:.thirdquarter(JulytoSeptember)September2018tothirdquarter(JulytoSeptember)September2022.thirdquarter(JulytoSeptember)2021tothirdquarter(JulytoSeptember)2022,respectively.ToputtheimpactoftheQueenslandrebateintocontext,forresidentialcustomersChapter4presentschangestoannualisedmedianbillsaswellasthirdquartermedianbills.Further,acrossthereportweusethirdquarterbillsbecauseitisthemostrecentbillingdataavailableforthisreport.However,insomeinstanceswepresentresultsonasecondquarter(ApriltoJune)2021tosecondquarter(ApriltoJune)2022basistobettershowtheunderlyingoutcomesacrossregions,withouttheinfluenceoftheQueenslandrebateimpactingresults.Wherepossible,wehavealsodisaggregatedouranalysistoaregionalorstate-by-statelevel.Wherewepresentresultsforgroupsofcustomersorbetweenregions,medianeffectivepricesandmedianbillsvarywithmedianusage,whichisrelevantwhenmakingcomparisons.Asusageincreases,billswillalsoincrease,andconverselyeffectivepriceswilldecrease.AppendixAdiscusseshowdifferencesinusageimpacttheoutcomeofthemedianeffectiveprice.Consistentwithpreviousreports,whiletheACCC’smonitoringremitextendstoallregionsintheNEM,thisreportfocusesonregionswitheffectiveretailcompetition,namely,NewSouthWales,Victoria,SouthEastQueensland,andSouthAustralia.Wherewerefertoallregionscombined,wearereferringtodatafromalltheseregions.RetailelectricitypricesformanycustomersarestillregulatedintheAustralianCapitalTerritory,regionalQueensland,andTasmania.WecollectbillingdatafromelectricityretailersusingourcompulsoryinformationgatheringpowersundertheCompetitionandConsumerAct.Retailersmustgiveusbillsfor:.arandomisedrepresentativesampleofresidentialcustomers.allsmallbusinesscustomers.allhardshipandpaymentplanresidentialcustomers.Toinformthisreport,wehavecollectedanadditional13millionelectricitybillscreatingatotaldatasetof49millionbills.Thisdatasetisnotavailablefromanyothersourceandcontainsinformationoncharges,tarifftypes,usage,discountsandsolarwhichallowsustodirectlyassesselectricitypricesfacedbycustomers.Usingthisdataset,weexaminethebillingoutcomesexperiencedbyresidentialandsmallbusinesscustomersacrossdifferen