November 2022 report8 Dec 2022
On 23 November 2022, 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 8 December 2022.
This report examines the impact of current market conditions on competition in the retail and financial electricity markets, and consequent impacts on consumers. It responds to a letter received from the Treasurer in June 2022, which requested the ACCC use its information gathering powers under the current inquiry to advise the government of any regulatory changes needed to ensure electricity markets are functioning properly. The report covers a significantly wider scope of analysis than our usual November cost stack reports with additional insights obtained from retailers’ and generators’ hedging contracts. However, 2021–22 cost stack data is reflected through this report and published in detail in an online appendix.