The Victorian Council of Social Service has described the introduction of a government-regulated energy deal as a big win for consumers.
The Victorian Government has today unveiled the details of Victoria’s new Default Offer deal.
VCOSO CEO Emma King said the so-called Victorian Default Offer will be a good value, mid-range deal.
“This is a great day for Victorians,” Ms King said.
“Default pricing is a significant and very justified intervention in the Victorian energy market.”
“Finally, the era of wild market deregulation is over, and we’re applying the handbrake to runaway energy prices.”
Ms King said with retailers now having to make the Default Offer available, people will be able to access a simple, good value deal.
“No tricks, traps or confusing discounts”.
The new rules mean retailers will have to peg their discounts to the default price, allowing consumers to better compare deals.
“No more comparing apples with oranges,” Ms King said
A regulated price was a key recommendation of the independent Thwaites-Mulder Review of Victoria’s Electricity and Gas Retail Markets.
The Victorian Default Offer will replace standing offers and be available to all Victorians, starting 1 July 2019.
About five per cent of Victorians are currently on standing offers, and the large majority of these customers will be automatically switched across to the new Default Offer.
“To access the new deal Victorians just need to contact their energy retailer,” Ms King said.
Power bosses should get out of the way and back fairer pricing.
VCOSS media release. 6 May 2019