Minister for Energy and Emissions Reduction Angus Taylor has today submitted a rule change to the Australian Energy Market Commission (AEMC) to improve the form and content of retail energy bills to make bills simpler and easier for consumers to understand.
Under current rules, energy retailers are only required to provide specific information relevant to the customer, such as their account details and payment date, but they are not required to present their bill using a prescribed presentation or format.
This rule change will provide the Australian Energy Regulator (AER) with the power to implement guidelines on how energy retailers must present, deliver and format their bills.
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Minister Taylor said standardising bills across the retail sector and ensuring delivery of clear and accessible information to all consumers will make it easier for Australian households and small businesses to better understand their energy usage.
“Navigating your power bills, understanding your energy usage and negotiating a better deal can be confusing and time consuming,” said Minister Taylor.
“One of the most effective ways of saving money on energy bills is to shop around and compare different offers.”
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“This rule change will support mums and dads and business owners to make informed decisions when negotiating with their energy provider.”
Recently, the Australian Competition and Consumer Commission (ACCC) found switching from a standing offer to a median market offer could save residential customers up to $230, depending on the region. Small business customers could access more substantial savings of between $720 and $1150.
For more information on the Government’s framework on energy and emissions reduction, click here.