NEM commonly described as gentailers are EnergyAustralia, AGL Energy, Origin Energy and Snowy Hydro (Lumo and Red Energy being retailer brands). Additionally, ERM Power is a generator as well as small business retailer. Gentrader Outcomes It has been argued that the reforms have delivered considerable economic benefits. A government review (December 2006) stated that the reforms have underpinned significant levels of investment in energy supply (approximately $7 billion in electricity generation and $4.4 billion in electricity transmission), improved productivity (particularly capital utilisation) and delivered internationally competitive electricity prices for Australian industry and households. In terms of the climate change impacts of the reforms, experts have concluded that the outcome is increased emissions with respect to business as usual scenarios. This is due to the lower cost of coal fired generation compared to other generators, reduced emphasis on energy efficiency from lower prices, the failure to price greenhouse gas emissions, combined with market design and regulation that favours incumbents. 2017 pricing crisis On 16 October 2017, the ACCC published a preliminary report into the electricity market highlighting significant concerns about the operation of the National Electricity Market, which is leading to serious problems with affordability for consumers and businesses. ACCC Chairman Rod Sims said: The ACCC estimates that in 2016-17, Queenslanders will be paying the most for their electricity, followed by South Australians and people living in New South Wales. Victorians will have the lowest electricity bills. On average across the NEM, a 2015-16 residential bill was $1,524 (excluding GST), made up of network costs (48%), wholesale costs (22%), environmental costs (7%), retail and other costs (16%) and retail margins (8%). The ACCC attributed the main reason for electricity price increases to higher network costs for all states other than South Australia, where generation costs represented the highest increase. "The wholesale (generation) market is highly concentrated and this is likely to be contributing to higher wholesale electricity prices." The ACCC accused the network operators of "over-investing" in poles and wires and gaming rules around revenue. The ‘big three’ vertically integrated gentailers, AGL, Origin, and EnergyAustralia, continue to hold large retail market shares in most regions, and control in excess of 60% of generation capacity in NSW, South Australia, and Victoria making it difficult for smaller retailers to compete. Retail margins increased significantly in NSW, but decreased in others. In the September 2017 quarter, the price of electricity increased nationally by 8.9%.