The Public Utilities Office has reviewed recommendations made by the Economic Regulation Authority (ERA) in its 2016 Report to the Minister for Energy on the Effectiveness of the Electricity Generation and Retail Corporation (EGRC) Regulatory Scheme.
The EGRC Regulatory Scheme was introduced in response to the merger of Verve Energy and Synergy on 1 January 2014, to mitigate the potentially adverse effects of the merger on competition in the Wholesale Electricity Market. The Scheme instruments require Synergy to:
A Directions Report outlining regulatory changes to address matters raised in the ERA Scheme review process has been endorsed by the Minister for Energy. The proposed regulatory changes include:
The Scheme reviews conducted by the ERA are also to move from an annual process to every two years.
The Public Utilities Office is working to implement the proposed changes to the Scheme in accordance with the following implementation timeline.
Documents relating to the review process are available below:
Last reviewed: 13 June 2019