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New Zealand Review Publishes Options For Improvements To Retail Market, Customer Protection
February 20,2019 New Zealand's Electricity Price Review process has published an "options paper" addressing various options to improve customer protections and the retail market, and including the authors' recommendations on each listed option Notable is that the options paper does not favor retail price caps, and does not favor a prohibition on vertically integrated companies (gentailers) The options paper favors an opt-in aggregation conducted by the retail regulator (or contracted agent) similar to a recent trial for non-shopping customers in Britain In New Zealand, between 400,000 and 750,000 households have never switched retailers since 2002 (when records began) The paper also favors prohibiting retailers from using a notification that a customer was switching to another retailer to win back that customer with a better offer (win-back offers) The paper noted that Australia's competition regulator negatively viewed win-back offers, with Australia's competition regulator stating, that "large retailers have the financial means to offer such aggressive retention offers by crosssubsidising these offers from the higher profits they are earning from their significant number of sticky high-value customers." The paper favors making generator-retailers release information about the profitability of their retailing activities See the options paper here
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