Who actually sets “standard” power prices? In most of the NEM, the Australian Energy Regulator (AER) sets a Default Market Offer (DMO) each year for NSW, SA and south‑east QLD, and in Victoria the Essential Services Commission (ESC) sets the Victorian Default Offer (VDO). These are regulated standing‑offer prices: a safety‑net cap and a reference price, not a discounted market deal. Retailers have to keep default or standing offers at or below this level, and show how their other plans compare t