Energy retailers will no longer be able to dupe Victorians with low-price deals, only to jack up their costs within months.
The state’s Essential Services Commission has brought in new rules to end ‘bait and switch’ tactics.
Commission chairperson Kate Symons says the changes are designed to make energy contracts simpler, to provide customers with more confidence and certainty.
“Up until now, customers could sign up to what looks like a great energy deal only to have that deal disappear in just a few weeks or months,” Ms Symons said.
“From 1 July, energy retailers will not be able to increase prices more than once a year, and must maintain any discounts, credits or rebates for the entire length of a customer’s contract.”