Electricity Supply Act 1995

The scheme penalty rate is the amount (expressed in dollars per notional megawatt hour) calculated by multiplying the base penalty rate for the year in respect of which the energy savings shortfall penalty is payable by the penalty conversion factor for that year.

Subject to clause 17—

the base penalty rate is as follows—

for 2009 and 2010—$24.50 per notional megawatt hour,

for each subsequent year—the base penalty rate for a previous year specified in the regulations and adjusted for movements in the consumer price index in accordance with the regulations, and

the penalty conversion factor for a year is 0.94.

The Scheme Regulator is to cause notice of the adjusted base penalty rate for a year to be published on its website before the beginning of that year.

(Repealed)