On 20th September 2024 an amendment was passed to the National Energy Retail Law (Queensland) that impacts energy tariff structures for retailers.
Key changes include:
1. Flat Tariff Requirement for Small Customers:
Energy retailers in Queensland must offer a flat tariff structure for standing offers to small customers with interval meters. This means that the energy rate charged to customers remains the same throughout the day.
2. Mandatory Notification on Time-of-Use Tariffs:
Retailers must inform customers on market offers about the option of time-of-use tariffs, where rates vary depending on the time of day. Additionally, retailers are required to highlight any potential savings from switching to a time-of-use tariff in price change notices.
Retailers must ensure that standing offers for small customers with interval meters include a flat tariff structure. Addtionally, retailers must update their price change notices to ensure that market offer customers are informed about the availability of time-of-use tariffs and the potential for savings. This change applies to residential and small business customers and applies to all market offer price change notices. ie. not limited price change notices following a smart meter installation that results in a change of tariff.
These changes aim to improve customer awareness of tariff choices and potential savings. Retailers are encouraged to review customer notification processes and seek legal guidance to ensure compliance with the new regulatory requirements.