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What are the safeguards to protect consumers if it is the electricity retailer initiating the early termination of contract?
EMA will progressively roll out the Enhanced Regulatory Regime for Electricity Retailers from August 2023 onwards. EMA will introduce guardrails to strengthen the existing competitive market structure. This includes enhancing the regulatory requirements on electricity retailers to strengthen consumer protection and ensure that they are sufficiently resilient against market volatility.
This enhancement will also include protecting customers if the retailers were to initiate the early termination of contract or were to exit the market.