Standing offer prices
23 Standing offer prices
Publication of standing offer prices
A retailer must publish its standing offer prices on its website, and the standing offer prices so published remain in force until varied in accordance with this section.
Notes—
1 A standing offer price may be a regulated price under jurisdictional energy legislation.
2 This subsection is a civil penalty provision.
Variation of standing offer prices
A retailer may vary the standing offer prices from time to time, but a variation has no effect unless—
it is made in accordance with the requirements (if any) of jurisdictional energy legislation; and
the variation (or the standing offer prices as varied) is published on the retailer’s website.
Publication and notification of variation
A retailer must—
publish the variation (or the standing offer prices as varied) on the retailer’s website; and
publish a notice about the variation in a newspaper circulating in the participating jurisdictions in which the retailer has small customers, notifying customers that—
there has been a variation; and
the variation (or the standing offer prices as varied) is published on the retailer’s website; and
inform each affected customer of the variation when the retailer sends the next bill to the customer.
Commencement of variation on specified date
Unless subsection (5) applies, a variation of the standing offer prices takes effect on and from the date specified in the variation.
Limitations on commencement of variation
A variation of the standing offer prices takes effect—
if the date specified in the variation is before or within the period of 6 months starting with the date the last variation took effect (or, if the standing offer prices have not previously been varied, the period of 6 months since the date of publication of the standing offer prices)—on the date that immediately follows the 6‐month period; or
if the date specified in the variation is before or within the period of 10 business days starting with the first business day after the date on which the variation was published—on the date that immediately follows the 10‐day period.
If both paragraphs (a) and (b) are applicable and the dates mentioned in those paragraphs are different, the variation takes effect on the later of those dates.
Note—
A retailer is not subject to subsection (5) in respect of a variation of its standing offer prices as a result of a RoLR cost recovery scheme under Part 6 (see section 167(6)).
Notification to AER
A retailer must, as soon as practicable, notify the AER of details of the standing offer prices and any variation of the standing offer prices in the manner and form required by the AER Retail Pricing Information Guidelines.
Publication by AER
The AER must, as soon as practicable after being notified by a retailer, publish the standing offer prices or any variation of the standing offer prices on the AER’s website, but failure to do so does not affect the operation or effect of the standing offer prices or any variation.
Limitation on application of this section
This section applies only as follows—
in relation to a retailer who sells gas;
subject to subsection (9), in relation to a retailer who sells electricity to small customers whose standing offer prices stop being notified prices under section 90(4) of the Electricity Act 1994 of Queensland because the price determination fixing the notified prices no longer applies (as mentioned in section 22A(3)).
Modified application of this section
This section applies in relation to a retailer mentioned in subsection (8)(b) with the following changes—
the retailer—
must set its standing offer prices immediately after the price determination mentioned in the subsection no longer applies; and
can not vary the standing offer prices for 1 year after the prices are set under subparagraph (i), unless the variation is to reduce the standing offer prices;
despite subsection (3)(c), if the retailer varies its standing offer prices to increase the prices, the retailer must inform each affected customer of the variation at least 10 business days before the variation takes effect;
despite subsections (2)(b) and (5), the retailer may vary its standing offer prices to reduce the prices at any time.
Editor’s note—
Subsections (8) and (9) are additional Queensland provisions.
This Act’s bill:Explanatory memorandum
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