{ "entity_id": "S-VIC-060", "folder": "Essential-Services-Commission", "name": "Essential Services Commission", "type": "Independent Statutory Authority", "jurisdiction": "VIC", "portfolio": "", "website": "https://www.esc.vic.gov.au/", "data_status": "partial", "completeness": { "has_strategy_brief": false, "has_strategy_structured": true, "has_vision": false, "has_kpi_targets": false, "has_kpi_results": false, "has_strategy_overview": true, "has_legislation_text": true, "has_legislation_structured": false, "has_global_initiatives_text": false, "has_global_initiatives_structured": false, "n_global_initiatives": 0, "has_ideas": true, "has_artifacts": true, "n_ideas": 12, "n_legislation": 0, "n_artifacts": 28, "n_kpi_targets": 0, "n_kpi_results": 0, "n_outcomes": 0, "verified_own_data": true }, "strategy_profile": { "status": "needs_review", "confidence": "medium", "summary": "", "official_site_url": "https://www.esc.vic.gov.au/", "source_documents": [ { "type": "strategie", "title": "Payment difficulty framework implementation review findings report (PDF version)", "url": "https://www.esc.vic.gov.au/sites/default/files/documents/RPT%20-%20Payment%20Difficulty%20Framework%20implementation%20review%20-%20Findings%20report%20-%20FINAL%20-%2020220531.pdf", "period": "2020", "confidence": "medium" }, { "type": "strategie", "title": "Payment difficulty framework implementation review findings report executive summary (PDF version)", "url": "https://www.esc.vic.gov.au/sites/default/files/documents/RPT%20-%20PDF%20implementation%20review%20-%20Findings%20report%20exec%20sum%20%20-%2020220531.pdf", "period": "2020", "confidence": "medium" }, { "type": "strategie", "title": "Payment difficulty framework review: our approach", "url": "https://www.esc.vic.gov.au/sites/default/files/documents/payment-difficulty-framework-review-our-approach-20210902.pdf", "period": "2021", "confidence": "medium" }, { "type": "strategie", "title": "Honeycomb Strategy, Essential Services Commission Energy Market Insights Research Report", "url": "https://www.esc.vic.gov.au/sites/default/files/documents/Honeycomb%20-%20%20Energy%20Market%20Insights%20July%202021%2019.07.21.pdf", "period": "2020", "confidence": "medium" }, { "type": "strategie", "title": "Assessing the competitiveness and efficiency of the Victorian energy retail market: Framework and approach", "url": "https://www.esc.vic.gov.au/sites/default/files/documents/assessing-the-competitiveness-and-efficiency-of-the-victorian-energy-market-framework-and-approach-paper-20191217_0.pdf", "period": "2019", "confidence": "medium" }, { "type": "strategie", "title": "Energy Retailers’ Financial Hardship Policies Framework Paper", "url": "https://www.esc.vic.gov.au/sites/default/files/documents/6db6ba90-e6ba-4adc-b6df-973e2dd4f29c.pdf", "period": null, "confidence": "medium" }, { "type": "strategie", "title": "North East Water's NCCs Guidelines and Negotiation Framework 2026", "url": "https://www.esc.vic.gov.au/sites/default/files/documents/North%20East%20Water%27s%20NCCs%20Guidelines%20and%20Negotiation%20Framework%202026.pdf", "period": "2020", "confidence": "medium" }, { "type": "annual_report", "title": "Annual Report", "url": "https://www.esc.vic.gov.au/sites/default/files/documents/Essential%20Services%20Commission%20Annual%20Report%202023-24.pdf", "period": "2020", "confidence": "high" } ], "purpose": null, "vision": null, "strategic_priorities": [], "values": [], "outcomes": [], "performance_measures": [], "document_alignment_terms": { "must_support": [], "watch_terms": [], "avoid_claiming_without_evidence": [] }, "review_note": "Structured strategy exists but is incomplete." }, "global_initiatives": null, "strategy": { "reporting_period": "2024-25", "corporate_plan_period": "2025-26", "vision": null, "vision_source_page": null, "purposes": null, "purposes_source_page": null, "how_we_deliver": null, "how_we_deliver_source_page": null, "government_priorities": [], "outcomes": [], "values": [], "values_framework_name": null, "kpi_targets_2025_26": [], "kpi_results_2024_25": [], "_source_urls": { "annual_report_url": "https://www.esc.vic.gov.au/sites/default/files/documents/Essential%20Services%20Commission%20Annual%20Report%202023-24.pdf", "corporate_plan_url": "" } }, "ideas": [ { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Regulation & Policy", "scale": "small", "title": "Regulatory burden scan for forms, guidance, and reporting", "idea": "Identify the top 10 highest-friction reporting obligations and simplify guidance, forms, or evidence requirements.", "quote": "17 December 2019\nAssessing the competitiveness and efficiency of the Victorian energy retail market: Framework and approach\n(pdf, 771.3 KB)\n17 December 2019\nKeeping watch: How to tell if the energy retail market is delivering for Victorian consumers\n(pdf, 1.2 MB)\nKey facts about our framework and approach\nWe looked for competition in the market that delivered positive long-term outcomes for Victorian consumers\nPrevious reviews have found that despite the number of energy companies operating in Victoria, the energy retail market is not highly competitive or efficient.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Regulated entities / policy teams", "source": "pages/inquiries-index__13.html (https://www.esc.vic.gov.au/electricity-and-gas/inquiries-studies-and-reviews/electricity-and-gas-retail-markets-review-implementation-2018/assessing-energy-retail-markets-competitiveness-and-efficiency)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Regulation & Policy", "scale": "large", "title": "Adaptive regulation program with live feedback loops", "idea": "Create an adaptive regulation model using sandboxes, industry data, risk scoring, and regular rule updates.", "quote": "17 December 2019\nAssessing the competitiveness and efficiency of the Victorian energy retail market: Framework and approach\n(pdf, 771.3 KB)\n17 December 2019\nKeeping watch: How to tell if the energy retail market is delivering for Victorian consumers\n(pdf, 1.2 MB)\nKey facts about our framework and approach\nWe looked for competition in the market that delivered positive long-term outcomes for Victorian consumers\nPrevious reviews have found that despite the number of energy companies operating in Victoria, the energy retail market is not highly competitive or efficient.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Regulated entities / policy teams", "source": "pages/inquiries-index__13.html (https://www.esc.vic.gov.au/electricity-and-gas/inquiries-studies-and-reviews/electricity-and-gas-retail-markets-review-implementation-2018/assessing-energy-retail-markets-competitiveness-and-efficiency)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Citizen Services", "scale": "small", "title": "Plain-language service pages and proactive status updates", "idea": "Rewrite high-volume pages and letters into plain language, add status notifications, and measure contact reduction.", "quote": "General issues related to COVID-19\n● Newly unemployed and financially distressed clients were unfamiliar with, reluctant to ask\nfor, payment supports available (e.g. hardship programs, concessions)\n● Higher energy bills due to COVID-19 lockdowns\n● Difficulties and delays reaching retailer call centres and ‘backlog’ of hardship customers; lack\nof relief and support while clients wait for a call back from the hardship team\n● Digital channels provided to customers as an alternative to COVID-19 impacted call centres\nwere not adequate (even for those able to use them)\n● Some distressed households did not engage until crisis point, making it more difficult to\nachieve positive outcomes\n● Some community agencies were unable meet demand for support during COVID-19; others\ncould service newly unemployed and financially distressed clients due to temporarily\ndecreased demand from regular clients (e.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Citizens / service users", "source": "reviews/Q4-20ConsumerExperiencesEnergyMarketReforms-2022062021-20-281-29.pdf (https://www.esc.vic.gov.au/sites/default/files/documents/Q4%20ConsumerExperiencesEnergyMarketReforms%2022062021%20%281%29.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Citizen Services", "scale": "large", "title": "Single front door for life-event based services", "idea": "Bundle services around life events so citizens can complete related steps across agencies in one journey.", "quote": "General issues related to COVID-19\n● Newly unemployed and financially distressed clients were unfamiliar with, reluctant to ask\nfor, payment supports available (e.g. hardship programs, concessions)\n● Higher energy bills due to COVID-19 lockdowns\n● Difficulties and delays reaching retailer call centres and ‘backlog’ of hardship customers; lack\nof relief and support while clients wait for a call back from the hardship team\n● Digital channels provided to customers as an alternative to COVID-19 impacted call centres\nwere not adequate (even for those able to use them)\n● Some distressed households did not engage until crisis point, making it more difficult to\nachieve positive outcomes\n● Some community agencies were unable meet demand for support during COVID-19; others\ncould service newly unemployed and financially distressed clients due to temporarily\ndecreased demand from regular clients (e.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Citizens / service users", "source": "reviews/Q4-20ConsumerExperiencesEnergyMarketReforms-2022062021-20-281-29.pdf (https://www.esc.vic.gov.au/sites/default/files/documents/Q4%20ConsumerExperiencesEnergyMarketReforms%2022062021%20%281%29.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Risk & Assurance", "scale": "small", "title": "Recommendation tracker for audits, reviews, and inquiries", "idea": "Publish a single internal tracker for audit/review recommendations, owners, due dates, and implementation evidence.", "quote": "The amount of ‘energy at risk’ is a measure of the\nextent of potential congestion at each network asset, and as such it is what influences\nthe timing of network augmentations and the amount of expected unserved energy.44\nAs we explain in chapter 3, ‘energy at risk’ is the amount of energy that won’t be\ndelivered if critical equipment fails at the zone substation (section 3.6.1).", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Executives / assurance teams", "source": "reviews/distributed-generation-inquiry-stage-2-final-report-network-value.pdf (https://www.esc.vic.gov.au/sites/default/files/documents/distributed-generation-inquiry-stage-2-final-report-network-value.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Risk & Assurance", "scale": "large", "title": "Integrated assurance and lessons-learned system", "idea": "Create an assurance system that connects audit findings, risk registers, delivery reviews, and investment decisions.", "quote": "The amount of ‘energy at risk’ is a measure of the\nextent of potential congestion at each network asset, and as such it is what influences\nthe timing of network augmentations and the amount of expected unserved energy.44\nAs we explain in chapter 3, ‘energy at risk’ is the amount of energy that won’t be\ndelivered if critical equipment fails at the zone substation (section 3.6.1).", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Executives / assurance teams", "source": "reviews/distributed-generation-inquiry-stage-2-final-report-network-value.pdf (https://www.esc.vic.gov.au/sites/default/files/documents/distributed-generation-inquiry-stage-2-final-report-network-value.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Citizen Participation", "scale": "small", "title": "Consultation feedback summaries with response tracking", "idea": "Summarise consultation submissions by theme and publish what changed in response.", "quote": "7 November 2019\nCatherine Waddams Price - Assessing the Competitiveness and Efficiency of the Victorian Energy Retail Market\n(pdf, 203.98 KB)\n7 November 2019\nDeloitte - Economic Views on Assessing the Competitiveness and Efficiency of the Victorian Retail Energy Market\n(pdf, 2.42 MB)\n7 November 2019\nDanny Price, Frontier Economics - Essential Services Commission Energy Retail Competitiveness and Effectiveness\n(pdf, 216.59 KB)\n2018 consultation presentations\n8 May 2018\nPresentation: Retail market review reference price methodology – Consultation paper feedback session\nThis presentation was delivered at a feedback session on submissions to our reference price methodology development, held by the commission at 50 Lonsdale Street, Melbourne, 4 May 2018.\n(pdf, 1011.74 KB)\n6 April 2018\nRetail market review implementation: technical workshop slides\n(pdf, 1.67 MB)", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Citizens / stakeholders / policy teams", "source": "pages/inquiries-index__13.html (https://www.esc.vic.gov.au/electricity-and-gas/inquiries-studies-and-reviews/electricity-and-gas-retail-markets-review-implementation-2018/assessing-energy-retail-markets-competitiveness-and-efficiency)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Citizen Participation", "scale": "large", "title": "Always-on policy participation platform", "idea": "Create a standing participation platform where citizens and stakeholders can propose, vote, and track ideas.", "quote": "7 November 2019\nCatherine Waddams Price - Assessing the Competitiveness and Efficiency of the Victorian Energy Retail Market\n(pdf, 203.98 KB)\n7 November 2019\nDeloitte - Economic Views on Assessing the Competitiveness and Efficiency of the Victorian Retail Energy Market\n(pdf, 2.42 MB)\n7 November 2019\nDanny Price, Frontier Economics - Essential Services Commission Energy Retail Competitiveness and Effectiveness\n(pdf, 216.59 KB)\n2018 consultation presentations\n8 May 2018\nPresentation: Retail market review reference price methodology – Consultation paper feedback session\nThis presentation was delivered at a feedback session on submissions to our reference price methodology development, held by the commission at 50 Lonsdale Street, Melbourne, 4 May 2018.\n(pdf, 1011.74 KB)\n6 April 2018\nRetail market review implementation: technical workshop slides\n(pdf, 1.67 MB)", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Citizens / stakeholders / policy teams", "source": "pages/inquiries-index__13.html (https://www.esc.vic.gov.au/electricity-and-gas/inquiries-studies-and-reviews/electricity-and-gas-retail-markets-review-implementation-2018/assessing-energy-retail-markets-competitiveness-and-efficiency)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Data & Performance", "scale": "small", "title": "KPI evidence register with named owners", "idea": "Create a simple register mapping each KPI to source data, owner, frequency, target, and last result.", "quote": "[Page 5]\nContents\nPreface ii\nStructure of this report ii\nData and figures presented in the report iii\nContents 4\nExecutive summary 6\nOur review of the effectiveness of the framework’s implementation 6\nVictoria’s energy payment difficulty framework: At a glance 9\nPositive and improved customer outcomes 9\nExamples of variable customer outcomes across retailers 10\nSummary of our key findings 13\nImproving the operation of the framework 19\nNext steps 19\nIntroduction 20\nThe payment difficulty framework 21\nUnderstanding consumers’ experience of vulnerability 24\nOur approach 27\nPurpose of our review 27\nOur review process 28\nHow we assessed the framework’s implementation against its objectives 30\nCommon themes across the framework 31\nCustomer outcomes are variable across retailers 31\nCustomer awareness of their entitlements is critical for success 32", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Executives / Parliament / public", "source": "strategies/RPT-20--20Payment-20Difficulty-20Framework-20implementation-20review-20--20Findi.pdf (https://www.esc.vic.gov.au/sites/default/files/documents/RPT%20-%20Payment%20Difficulty%20Framework%20implementation%20review%20-%20Findings%20report%20-%20FINAL%20-%2020220531.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Data & Performance", "scale": "large", "title": "Outcome dashboard linking budget, delivery, and public impact", "idea": "Build a public-facing outcome dashboard showing spend, outputs, outcomes, and delivery confidence.", "quote": "[Page 5]\nContents\nPreface ii\nStructure of this report ii\nData and figures presented in the report iii\nContents 4\nExecutive summary 6\nOur review of the effectiveness of the framework’s implementation 6\nVictoria’s energy payment difficulty framework: At a glance 9\nPositive and improved customer outcomes 9\nExamples of variable customer outcomes across retailers 10\nSummary of our key findings 13\nImproving the operation of the framework 19\nNext steps 19\nIntroduction 20\nThe payment difficulty framework 21\nUnderstanding consumers’ experience of vulnerability 24\nOur approach 27\nPurpose of our review 27\nOur review process 28\nHow we assessed the framework’s implementation against its objectives 30\nCommon themes across the framework 31\nCustomer outcomes are variable across retailers 31\nCustomer awareness of their entitlements is critical for success 32", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Executives / Parliament / public", "source": "strategies/RPT-20--20Payment-20Difficulty-20Framework-20implementation-20review-20--20Findi.pdf (https://www.esc.vic.gov.au/sites/default/files/documents/RPT%20-%20Payment%20Difficulty%20Framework%20implementation%20review%20-%20Findings%20report%20-%20FINAL%20-%2020220531.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Procurement & Delivery", "scale": "small", "title": "Procurement lessons library for repeat purchases", "idea": "Capture reusable procurement clauses, market lessons, supplier performance notes, and common evaluation criteria.", "quote": "[Page 3]\nWholesale electricity costs 0\nCONTENTS\n1 Introduction 3\n1.1 Background 3\n1.2 Frontier Economics’ engagement 3\n1.3 This final report 3\n1.4 Changes since draft report 4\n2 Approach to assessing WEC 5\n3 Half-hourly spot prices and half-hourly load 7\n3.1 Historical data on half-hourly price and load 7\n3.2 Selecting appropriate historical data 8\n3.3 Projecting half-hourly load and spot prices 14\n4 Contract prices 22\n5 Contract position 27\n6 Wholesale electricity costs 40\n6.1 Wholesale electricity costs 40\n6.2 Volatility allowance 49\n6.3 Allowance for prudential costs 49\n7 LRET and SRES 51\n7.1 LRET 51\n7.2 SRES 52\nTables\nTable 1: 12-month trade weighted average ASXEnergy derivative prices for Victoria 23\nTable 2: Modelled market-based wholesale electricity cost result 40\nTable 3: Modelled volatility allowance 49\nTable 4: Renewable Power Percentage 51", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Delivery teams / suppliers", "source": "reviews/RPT-20--20Frontier-20Economics-20--20Final-20Report-20--20Wholesale-20electricit.pdf (https://www.esc.vic.gov.au/sites/default/files/documents/RPT%20-%20Frontier%20Economics%20-%20Final%20Report%20-%20Wholesale%20electricity%20costs%2020190419%20%282%29.PDF)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "S-VIC-060", "entity_name": "Essential Services Commission", "folder_name": "Essential-Services-Commission", "category": "Procurement & Delivery", "scale": "large", "title": "Portfolio delivery office for major investments", "idea": "Stand up a portfolio delivery office that tracks benefits, risks, dependencies, procurement, and delivery confidence.", "quote": "[Page 3]\nWholesale electricity costs 0\nCONTENTS\n1 Introduction 3\n1.1 Background 3\n1.2 Frontier Economics’ engagement 3\n1.3 This final report 3\n1.4 Changes since draft report 4\n2 Approach to assessing WEC 5\n3 Half-hourly spot prices and half-hourly load 7\n3.1 Historical data on half-hourly price and load 7\n3.2 Selecting appropriate historical data 8\n3.3 Projecting half-hourly load and spot prices 14\n4 Contract prices 22\n5 Contract position 27\n6 Wholesale electricity costs 40\n6.1 Wholesale electricity costs 40\n6.2 Volatility allowance 49\n6.3 Allowance for prudential costs 49\n7 LRET and SRES 51\n7.1 LRET 51\n7.2 SRES 52\nTables\nTable 1: 12-month trade weighted average ASXEnergy derivative prices for Victoria 23\nTable 2: Modelled market-based wholesale electricity cost result 40\nTable 3: Modelled volatility allowance 49\nTable 4: Renewable Power Percentage 51", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Delivery teams / suppliers", "source": "reviews/RPT-20--20Frontier-20Economics-20--20Final-20Report-20--20Wholesale-20electricit.pdf (https://www.esc.vic.gov.au/sites/default/files/documents/RPT%20-%20Frontier%20Economics%20-%20Final%20Report%20-%20Wholesale%20electricity%20costs%2020190419%20%282%29.PDF)", "implementation": [ 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