The Prohibiting Energy Market Misconduct (PEMM) provisions in the Competition and Consumer Act 2010 exist to ensure markets operate efficiently and fairly and deliver the lowest cost energy. They are an important part of an effectively functioning energy system but need strengthening to ensure they work as intended.
That’s why we’re advocating for reform in our response to the Commonwealth Department of Climate Change, Energy, the Environment and Water’s (DCCEEW) PEMM Provisions in the Competition and Consumer Act 2010 Consultation Paper, with key recommendations including:
- Increasing the monitoring power of the regulator;
- keeping the enforcement of any provisions with the Australian Competition & Consumer Commission (ACCC), and;
- Considering complementary powers and retail monitoring for Australian Energy Regulator (AER)
What’s next?
We’ll continue working with DCCEEW on this, while we pursue opportunities to reform wholesale markets and strengthen retail energy market monitoring and regulation across a number of processes being run by the AER and the Australian Energy Market Commission (AEMC), and through the Better Energy Consumer Experiences projects lead by DCCEEW.
