On 20 July 2015 – IPART released its draft report on the competitiveness in the retail electricity market. This is the first review of its kind since retail price regulation was removed in NSW and IPART moved to a market monitoring role.
The draft findings suggest that the retail electricity market is working effectively with:
- no issues with barriers to entry; 4 new retailers entered the NSW market during 2014/15;
- a high level of awareness amongst residential and small use business customers that they can choose their electricity retailer; one third of customers have looked at their options and one quarter have switched suppliers and are happy with the outcome; and
- retailers actively trying to attract and retain customers through a range of price discounts, new products and service options.