At Strata Plan, we strive to provide you and your OC with a hassle-free experience. Part of this is ensuring that we look out for potential changes in the industry that might affect you or your OC.
We have closely been following Victoria’s Embedded Networks Review– an Expert Panel aimed to develop recommendations that, if implemented in full, will improve fairness, choice and protections for residential embedded network customers.
Recently, the office of the Premier of Victoria has released a statement that The Embedded Networks Review has recommended banning embedded electricity networks in new apartment buildings and reforming existing networks to ensure all Victorians have access to the same competitive retail offers and consumer protections.
Quotes attributable to Minister for Energy, Environment and Climate Change Lily D’Ambrosio
“We want to ensure that Victorians living in new and existing residential embedded networks can get access to the same competitive retail offers and consumer protections that other people have. That’s why we promised to act to ban these networks in new apartment blocks, which too often lock in high costs.”
WHAT DOES THIS MEAN FOR YOU?
The recommendations, if approved, will ensure that, to the fullest extent practicable, Victorians living in new residential apartment buildings and legacy (existing) embedded networks will experience significantly improved equity and fairness outcomes. In particular, the suite of recommendations provides customers with more power and control, as well as encouraging the uptake of renewable energy and innovative technologies consistent with Victorian Government policy.
You can access the Final Recommendations report here as well as the proposed implementation pathways for new and legacy (existing) local energy networks pathway.
The next stage of the review is for the Victorian Government to consider the recommendations and prepare a formal response which outlines the extent to which it will implement the recommendations. The Government response is expected to be published by mid-2022.