Types of offers
When you buy electricity or gas from the regulated offer retailer in your area, you enter into a Standard Customer Contract. With this type of contract, the price is regulated by IPART, the Independent Pricing and Regulatory Tribunal. IPART sets the maximum price and the fees that the retailer can charge.
To find out who the regulated electricity and gas retailers are in your area, visit the NSW Trade and Investment website.
All retailers must offer you a standard contract at ‘standing offer prices’. These prices are set by the retailer and can be changed at any time. Details of a retailer’s standing offer are published on their website. This type of contract has no set term, and so there is no early termination fee charged when you close the account.
When you take up a special offer or deal, you enter into a market contract - also called a negotiated contract or offer - with the retailer. These contracts vary between retailers and contain different terms and conditions from Standard Contracts. You can enter a negotiated contract over the phone, or by completing a form you receive in the mail or from a door-to-door marketer.
With this type of contract, the price is not regulated by IPART. The retailer sets the price. Usually, the retailer also reserves the right to change the price at any time.
Ten day cooling-off period
When you agree to or sign a market offer, you have ten days to reconsider your decision (the cooling-off period) and withdraw from the contract without penalty. A marketer must tell you about the ten day cooling-off period. You can advise your retailer about your decision by phone or in writing.
Early termination fees
There may be a fee for terminating your negotiated contract early. The marketer must tell you about this fee and this information must be clearly stated in the contract. Be aware that if you move to a new property it may be regarded as a termination of the contract, even if the same company will be your retailer.
Share this page