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

The Minister may, during the transition period, enter into a contract with 1 or more long duration capacity providers to provide long duration dispatchable electricity capacity in order to assist in meeting the Firm Energy Target or otherwise for the purposes of the scheme.

A contract entered into under this regulation will be for a term agreed between the Minister and the long duration capacity provider (which may be a term that extends beyond the end of the transition period).

A contract entered into under this regulation will, on a day determined by the Minister (the relevant day), be taken to be a contract between the Financial Vehicle and the long duration capacity provider who is the other party to the contract.

In connection with subregulation (3) but subject to subregulation (5), on and from the relevant day—

the rights and liabilities of the Minister under the contract vest in and attach to the Financial Vehicle in substitution for the Minister; and

the Minister is wholly released and discharged from the contract; and

a reference in the contract to the Minister as a party to the contract will be taken to be a reference to the Financial Vehicle as a party to the contract.

Subregulation (4)(a) and (b) do not apply to or in relation to a right or liability of the Minister specified by the Minister by notice in writing to the Financial Vehicle and the other party to the contract (and the Minister is not released or discharged from any such liability).

The parties to a contract entered into under this regulation may vary or extend the contract, including after the end of the transition period, subject to the qualification that, on and from the relevant day, the Financial Vehicle must consult with the Minister before a variation or extension (if any) is made.

A long duration capacity provider who is a party to a contract under this regulation must comply with a capacity commitment specified in the contract in accordance with the terms of the contract.

Subregulation (7) does not apply to any capacity commitment excluded from the operation of that subregulation by the Minister under the terms of the contract.