Briefing Note | April 2021
An innovation of competitive energy markets has been the emergence of retail energy brokers for both business and residential customers.
In the residential market these brokers sell retail contracts by providing on-line comparisons between different offers from energy retailers, even though this service is also provided independently by the Australian Energy Regulator at com.au (or by Energy Compare in Victoria).
In the C&I sector energy brokers are a fast-evolving new service, offering a range of services from contracting or advising on the installation of renewable generation, supply of firming contracts, advice on supply of storage, energy efficiency services, power factor correction, tendering, energy audits, procurement and bespoke electricity trading, derivatives and contracting services.
There are believed to be more than 50 energy brokers operating in the C&I sector in the NEM. The sector is not formally regulated or licenced.
Under the National Electricity Rules electricity can only be bought from the NEM by a licenced retailer, so these services provided by brokers must still be transacted through a retailer.