Revocation of Energy Industry Guideline No. 5 (EG5/1) – Information Disclosure for No Early Termination Fee Market Contracts
30 Dec 2019
The Commission’s Energy Industry Guideline No. 5 sets out information requirements for no early termination fee contracts offered by energy retailers.
On 26 September 2019, new Regulations were made prohibiting energy retailers from offering market retail contracts to customers that contain a fee or charge for early termination of the contract, except in limited circumstances.
The new Regulations will commence on 30 December 2019, and will remove the Commission’s power to make Energy Industry Guideline No. 5. Accordingly, the Commission’s Energy Industry Guideline No. 5 is no longer necessary and will cease to have effect on 30 December 2019.