National Electricity (South Australia) (Firm Energy Reliability and Orderly Exit Management) Regulations 2025

A fund is established for the purposes of the scheme (the Fund).

The Fund will be administered by the Financial Vehicle.

The Fund must be kept at an ADI.

The Fund will consist of—

any money paid by a TNSP under a contribution notice or an initial contribution notice; and

any money paid by a long duration capacity provider under a FERM contract; and

any money advanced by a scheme entity for payment into the Fund; and

any money advanced by the Treasurer for payment into the Fund; and

any money appropriated by Parliament for payment into the Fund; and

any money received as voluntary contributions to the Fund made by a person or body; and

any amount paid as a civil penalty under regulation 34; and

income and accretions from investment of money from the Fund; and

other money paid into the Fund under or for the purposes of these regulations.

Money advanced under subregulation (4)(c) or (d) may be in the nature of a loan.

A loan under subregulation (4)(d) may be made to the Financial Vehicle, or on some other basis determined by the Treasurer.

A loan may be made on any terms and conditions—

agreed between the relevant parties; or

determined by the Treasurer.

The Fund will be applied towards—

payments to a long duration capacity provider under a FERM contract; and

money otherwise required to meet the financial liabilities of the Financial Vehicle in respect of scheme financial functions; and

costs incurred by scheme entities in the performance of their functions under these regulations, including costs associated with the administration and implementation of the scheme, to the extent authorised by the Minister; and

costs incurred by the Minister in paying a scheme entity to act under these regulations; and

a FERM Scheme Amount payable to a TNSP; and

payments due under the terms or conditions of a loan under this regulation; and

the repayment of any money advanced or applied by the Treasurer, the Minister, an administrative unit or other State Government authority for the purposes of these regulations; and

other costs associated with the implementation of the scheme authorised by the Minister; and

other money required to be paid from the Fund under these regulations.

Subject to subregulation (10), a payment of money under this regulation may include—

the reimbursement of an amount that has already been paid; and

a payment towards any liability or costs that have already been incurred; and

a payment to a third party in connection with the operation or effect of these regulations.

Nothing in this regulation allows—

the payment of money in respect of a liability incurred before the commencement of these regulations; or

the payment of money into, or the application of money from, the Fund in connection with OEM functions

Any money not immediately required for the purposes of the Fund may be invested by the Financial Vehicle in any form of investment that is consistent with the Financial Vehicle's responsibility to act in a prudent way and that is authorised by the Minister for the purposes of this subregulation.