Why energy companies should be forced to act in their customers best interests

Australia’s retail energy market promises competition and choice, yet many households feel confused, overcharged and stuck. Former chair of Victoria’s Essential Services Commission Ron Ben-David argues the problem isn’t just high prices, but a market design that assumes consumers behave like textbook economists. He explains how “buyer beware” has produced a loyalty penalty, rising mistrust and an endless layering of consumer protections that fail to address the root cause. As the energy transition accelerates and decisions become more complex, he warns the system is becoming harder — not easier — for consumers to navigate. He makes the case for a fundamental shift to a consumer duty that would require energy companies to act in their customers’ best interests. Without rebuilding trust, he warns, the energy transition itself is at risk.