The nation’s consumer watchdog has found the Australian government’s Cheaper Home Batteries program and broader energy bill relief are effectively lowering household and business energy costs, with more reforms on the way to deliver fairer deals for billpayers.
The latest Australian Competition and Consumer Commission (ACCC) Inquiry into the National Electricity Market (NEM) revealed Australians are installing solar panels and home batteries at record levels, supported by state and federal incentives.
According to the ACCC’s 13th report under the Prohibiting Energy Market Misconduct (PEMM) Act 2019, households and businesses with combined solar and battery systems are experiencing significantly lower electricity bills.
Those participating in virtual power plants are benefiting from even greater savings.
The inquiry also confirmed that rebates supplied under government energy initiatives are contributing to affordability, lowering bills for households across the country.
In response to the findings, the federal government has announced steps to bolster consumer protections in the energy market.
As part of its review of the PEMM Act, the government will consult on expanding retail pricing protections to prevent companies from over-inflating charges in response to cost pressures.
It will also pursue measures to curb cross-market manipulation between wholesale and financial markets.
To maintain safeguards against unfair practices, the government will extend the sunset date of the PEMM framework to 1 January 2031.
Minister for Climate Change and Energy Chris Bowen said the reforms underscored the government’s commitment to affordability and fairness.
“Australians deserve a fairer go when it comes to their energy bills – whether it’s cracking down on dodgy retailers or making it easier for more people to access rooftop solar and home batteries,” said Bowen.
“The latest ACCC report shows that households are starting to reap the benefits of a fairer energy system, but we’re not going to let any opportunity to keep on fixing the energy market pass us by.
“In our second term, we’re getting on with strengthening consumer protections, so that no household or business pays more than they should.”
The government said the combination of falling technology costs, targeted rebates, and stronger oversight would help ensure Australian households continue to benefit from cleaner, cheaper, and more reliable energy.
