June 2023 report30 Jun 2023
On 2 June 2023, the ACCC provided a report to the Treasurer as part of its inquiry into the prices, profits and margins in the supply of electricity in the National Electricity Market (NEM). The ACCC published the report on 30 June 2023.
The report examines electricity bills and prices faced by customers based on their actual consumption. It highlights the very early impacts of the wholesale electricity market conditions in mid-2022. Our analysis includes electricity retailers’ billing data up to the third quarter of 2022. It covers customers in Victoria, New South Wales, South Australia, and south-east Queensland.
The report also:
- considers the impact of government rebates
- examines prices faced by customers on different tariff types
- analyses data on the prices of currently available offers in the retail market relative to 2023–24 Default Market Offer and Victorian Default Offer prices.
The report extends our May 2022 analysis of retailers’ billing data. This analysis focuses on those NEM regions with effective competition in retail markets. It complements our work on retailers’ costs of supplying electricity, which was most recently presented in our November 2022 report.