Electricity Supply Industry (Price Control) Amendment Regulations 2012 (TAS)

Electricity Supply Industry (Price Control) Amendment Regulations 2012

I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Electricity Supply Industry Act 1995 .7 May 2012

PETER G. UNDERWOOD

Governor

By His Excellency’s Command,

LARA GIDDINGS

Treasurer

1Short titleThese regulations may be cited as the Electricity Supply Industry (Price Control) Amendment Regulations 2012 . 2CommencementThese regulations take effect on the day on which their making is notified in the Gazette. 3Principal RegulationsIn these regulations, the Electricity Supply Industry (Price Control) Regulations 2003 are referred to as the Principal Regulations. 4Regulation 32 amended (Principles to be given effect) Regulation 32 of the Principal Regulations is amended as follows: (a) by omitting subregulation (4) and substituting the following subregulations: (4)  Under subregulation (3) , the Regulator makes an estimate of electricity supply costs by calculating the average of – (a) the price Aurora Energy would pay to purchase electricity in Victoria and transport the electricity to mainland Tasmania for supply to non-contestable customers on mainland Tasmania; and (b) the long-run marginal cost of electricity generation by a notional electricity generator to supply electricity to non-contestable customers on mainland Tasmania. (4A)  For the avoidance of doubt, the amendments contained in the Electricity Supply Industry (Price Control) Amendment Regulations 2012 do not affect the validity of an estimate of electricity supply costs made under this regulation before those regulations commence. (b) by omitting from subregulation (5) "When determining, for the purpose of subregulation (4)(b) , if an estimate of electricity supply costs is more than or equal to" and substituting "When calculating, for the purpose of subregulation (4)(b) ,"; (c) by omitting from subregulation (6) "may, once in any 6-month period," and substituting "may".

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 16 May 2012

These regulations are administered in the Department of Treasury and Finance.

EXPLANATORY NOTE

(This note is not part of the regulation) These regulations amend the

(a) adjusting how an estimate of electricity supply costs is calculated in certain circumstances; and (b) removing the restriction that an estimate of electricity supply costs may only be amended once in any 6-month period.