Electricity Act 1994

The purpose of this section is to ensure that this Act does not adversely affect arrangements in place at the commencement of this Act under the Gladstone Power Station Agreement Act 1993 and the State agreement under that Act.

On the commencement of this subsection, the State will negotiate with the participants under the State agreement under the Gladstone Power Station Agreement Act 1993 to amend the State agreement, to take effect immediately after the commencement of this Act, so as to as nearly as possible maintain the rights and obligations had, immediately before the commencement of this Act, by the State, the parties to the State agreement and the parties to the transaction documents mentioned in the State agreement.

In addition to the matters mentioned in subsection (2), the State must identify to the parties to the State agreement before the commencement which 1 or more of QGC, QTSC and QETC (a relevant entity) are to be substituted for the Queensland electricity commission in the arrangements contemplated by the Gladstone Power Station Agreement Act 1993 and the State agreement.

A relevant entity that is substituted for the Queensland electricity commission in the arrangements is, by this subsection, authorised to enter into the arrangements and do everything necessary or convenient to enable it to perform the commission’s obligations, and exercise its entitlements, under the arrangement.

If the parties to the State agreement are unable to agree on the amendments of the State agreement required by subsection (2), the inability to agree is a dispute between the parties.

A party to a dispute may give to the other parties to the dispute a written notice (a notice of dispute) specifying the dispute and requiring that it be dealt with under subsection (7).

If a party gives a notice of dispute, the Minister (within the meaning of the State agreement) or the Minister’s nominee and the chief executive officer or the chief executive officer’s nominee of each of the other parties to the dispute must meet in Brisbane within 10 days of the giving of the notice of dispute to attempt in good faith, and using their best endeavours to resolve the dispute within a further 10 days.

To avoid doubt, a dispute under this section is not a dispute for the purposes of clause 24 of the State agreement, but this does not limit the remedies the parties might otherwise have.

The application of this Act may be changed under the regulations made under this Act or the Gladstone Power Station Agreement Act 1993, or by the State agreement, to give effect to subsections (1) to (4).