New energy protections will apply to Victorian small businesses from 1 July.
Reforms that will help Victorians navigate the energy market include the best energy offer, consumer fact sheet and Victorian Default Offer.
The new consumer protections were recommended by the 2017 independent and bipartisan review of electricity and gas retail markets.
From 1 July 2019:
- energy companies must tell customers whether they're on their best energy plan and how much the customer could save by switching to that plan (electricity and gas)
- energy companies will have to provide customers with a fact sheet showing key information about available energy offers (electricity and gas)
- customers currently on simple standing offers will automatically be transferred to the Victorian Default Offer, other customers can ask to switch to the default offer (electricity)
Image: Illustration of potential energy savings for small business across five major energy providers at 20,000 kWh per year under the VDO