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The Australian Energy Market Commission (AEMC) announced new rules today that will bar energy retailers from raising prices more than once per year for most people and remove fees for vulnerable customers, among other changes meant to help Australians find better energy deals.

While the changes don't address the base price of energy, the bulk of most power bills, they will provide more information for consumers to make better choices about their providers. The changes include:

Customers cannot be charged higher prices for their loyalty and will pay no more than the standing offer price if their plan changes or expires.

The removal of unreasonably high penalties for not paying bills on time.

Restrict price increases in market retail contract from more than once every 12 months.

Prohibit fees for vulnerable customers and limit fees and charges to reasonable costs for others.

These reforms will help ensure that Australian households can have greater confidence in their energy plans and that those experiencing financial difficulty receive appropriate support.