The ACCC is responsible for monitoring and enforcing Part XICA of the Competition and Consumer Act 2010 (the Act).
Part XICA applies to electricity generators and retailers that generate electricity or supply electricity to small customers. Part XICA establishes three specific prohibitions targeting certain conduct in electricity markets. The prohibitions relate to retail pricing, particular conduct in financial contract markets and particular conduct in electricity spot markets.
Part XICA is in effect from 10 June 2020 to 1 January 2026.
Part XICA inserts three prohibitions into the Act that relate specifically to electricity markets. These are the:
- retail pricing provision, relating to electricity retailers passing on cost reductions to their small customers
- electricity financial contract liquidity provision, relating to the supply of electricity hedging contracts by owners of electricity generators
- electricity spot market provisions, relating to the bidding conduct of owners of electricity generators, when they are participating in electricity spot markets.
The ACCC is responsible for monitoring compliance with and enforcing Part XICA. As part of this role, the ACCC has published guidelines to inform industry participants of our investigations and enforcement approach.