Customers
Customer churn
Market churn rose sharply in the first quarter due to the impact of higher wholesale prices, price changes and Retailer of Last Resort (RoLR) events with churn stabilising across the remainder of the year. AGL churn remains lower than Rest of Market due to strong customer retention in the second half of the year and improved customer experience. AGL churn was 14.2% (an improvement of 1.4 ppts from 15.6% at 30 June 2022), and Rest of Market churn was 18.7% (an improvement of 0.9 ppts from 19.6% at 30 June 2022). The gap between AGL and Rest of Market was 4.5 ppts, an improvement from 4.0 ppts at 30 June 2022.
Notes
Churn is defined as a completed transfer of a customer to a competing retailer.
Churn figures relate to residential and small business energy customers and do not include commercial and industrial customers or Southern Phone Company customers.
Rest of Market churn refers to churn that takes place in the energy market excluding churn from AGL.