Big changes are coming to the Australian energy industry.
Various market forces have driven the Australian Energy Market Operator (AEMO), Australian Energy Market Commission (AEMC), and Australian Energy Regulator (AER) to introduce new customer switching rules.
Coming into effect by October 2021, the impact of these on consumers, retailers, and other stakeholders will be profound.
- The market will become more competitive and consumers harder to retain.
- Retailers will need to rethink their value proposition, systems, and processes.
- Energy companies may need to restructure their entire business model.
Though these changes will not be implemented until the end of September this year, energy retailers will need to have appropriate systems in place and ready for testing by July in order to keep up.