Victoria Gains Number Slot in Electricity Market Competitiveness

Victoria has shown great prowess in the electricity industry as it was recently declared one of the most competitive electricity markets in the world. VaasaETT, a leading analyst based in Finland, was not hesitant to declare this given that Victoria has had 20% of its populace and small businesses transfer providers for five years in a row. Though competition is stiff with other states, Victoria has remained strong.

As statistics would show, there were more people who converted to another dealer in Victoria than in other states during the year 2009. Compared to South Australia, which had 12.2 percent, Queensland that had 11.5 percent and New South Wales with 9.2 percent; Victoria experienced a 26 percent turnover.

But the real question for this is if the turnaround is actually producing more benefits for consumers. Although Victoria is experiencing quite an impressive augmentation as compared to other states, this does not entail that the consumers have actually found the most cost effective option. Usually, what happens is they are just presented another choice, instead of a multitude, to which they convert to, given the opportunity. Unlike in the United Kingdom where 1 million conglomerates and private entities swap energy providers upon clear comparison of the alternatives, there is no clear indicator for this in Victoria.

Thus, Make It Cheaper urges further investigation. Moreover, it also urges the government to safeguard the interest of consumers by giving them the chance on making an educated decision regarding transferring energy providers.