Not to mention that in many cases, the retailer cannot immediately reprice. They depend on the right hedging to protect from downside until repricing becomes an option
And I'm not just talking about fixed price contracts:
https://www.esc.vic.gov.au/electricity-and-gas/information-consumers/energy-contract-rules-ensure-fair-deal
This is the VIC version (which changes Jan1), but other states have similar legislation (but change prices on July1).
List of dates/states: https://www.energyaustralia.com.au/home/help-and-support/faqs/rate-changes
So until that point, margins will be crunched and they'll depend on their hedge (as would most retailers at this point).
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-28
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