A new independent report shows that CS Energy’s retail joint venture with Alinta Energy has delivered increased competition and savings for electricity consumers in South East Queensland.
Findings from the Australian Energy Market Commission’s retail energy competition review last week show how the Alinta Energy JV has disrupted the retail market in South East Queensland.
The AEMC’s annual report on retail competition analyses whether energy shoppers are getting what they want from the market. It covers residential and small business consumers in retail electricity and gas markets in Queensland,NSW, ACT, Victoria, South Australia and Tasmania.
Queensland findings in the AEMC’s review included:
- Retail competition has increased for electricity consumers over the past year in South East Queensland.
- The traditional big three retailers no longer hold the three largest market shares in South East Queensland. Alinta Energy has captured market share following its joint venture with CS Energy, and has overtaken EnergyAustralia to be the third largest retailer.
- A number of retailers noted an uplift in competition in Queensland following the arrangements entered into between Alinta Energy and CS Energy that has facilitated substantial discounting.
- Switching between big three to tier two retailers increased significantly, mainly resulting from Alinta Energy’s entry and expansion in the market.
Alinta Energy and CS Energy formed a 50/50 joint venture in August 2017 to supply electricity to residential and small commercial and industrial customers within the Energex Distribution area.
Under the joint venture, CS Energy provides wholesale electricity and Alinta Energy manages the retail business on behalf of the joint venture parties.
If you live in SEQ and would like to switch to Alinta Energy, visit www.alintaenergy.com.au
In regional Queensland, regulated electricity prices are subsidised through the state’s Uniform Tariff Policy.