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

This regulation applies to any contract between the Minister and another party for the provision of long duration dispatchable electricity capacity entered into before the commencement of these regulations which is declared by the Minister, by notice in the Gazette, to be a contract that is subject to the operation of this section (including such a contract as varied or extended at any time).

An existing designated electricity entity who is a party to a contract to which this regulation applies is taken to be a long duration capacity provider for so long as they remain a party to the contract.

A contract to which this regulation applies will, on a day determined by the Minister (the relevant day), be taken to be a contract between the Financial Vehicle and the existing designated electricity entity 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 liability incurred by the Minister before the commencement of these regulations; or

a right or liability 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 to which this regulation applies may vary or extend the contract, 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.

An existing designated electricity entity who is a party to a contract to which this regulation applies 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.