Australian Energy Market Commission Chairman John Pierce AO has called for more disruptive leadership in retail electricity businesses.
"All technologies and businesses come and go, and change. What you want in the market today is experimentation – and offers of new products and technologies that work for consumers -- but what do we see?
"Continuing confusion around retail price offerings means most consumers don’t grasp the opportunities on offer. Yet innovation in pricing and new products is starting to happen. New energy entrepreneurs and traditional energy retailers are starting to rise to the challenge. But progress is at the margins, and not fast enough for consumers wanting to take action to reduce their energy bills."
The Pierce address was delivered today to the 2018 Australian Energy Week conference in Melbourne.
He spoke about four areas where the Commission is addressing challenges facing the national electricity market in this time of transitional change:
- The positive power of retail disruption
- Using "factfulness" to cut the cost of wholesale market transformation
- The need to define and understand the change the market is going through so we can look forward with a clear perspective
- The need to stay the course on reliability reform for the sake of Australian consumers.
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