Regulator releases ‘Best Offer Guideline’ to promote energy retailers’ compliance with rules
23 November 2023
The Essential Services Commission has today released the Best Offer Guideline, which provides guidance to energy retailers on how they share information about their ‘best energy offer’ with customers.
Energy retailers are required to tell customers on their bill whether or not they are receiving their deemed best offer at least once every three months for electricity and at least once every four months for gas. This includes telling customers how much money they could save by switching to the best plan the retailer offers, if they are not already on it.
The commission recognises that customers need clear, timely and transparent information about energy offers to engage confidently with the energy market. The Best Offer Guideline is supported by our 2023-24 energy compliance and enforcement priority to help customers to navigate the energy market.
The guideline does not introduce any new obligations on Victorian energy retailers. It will help energy retailers to review and improve how they communicate their best offer to make it clearer and easier for customers to switch to a better value plan. The guideline includes:
case studies demonstrating different scenarios where retailers are required to provide customers with best offer messages
better practice examples to encourage retailers to adopt industry best practice.
