Electricity Supply Industry Act 1995

In this section – applicable financial year means – the 2018-2019 financial year; or the 2019-2020 financial year; or the 2020-2021 financial year;CPI figure for Hobart means the Consumer Price Index (All Groups) Number for Hobart published by the Australian Statistician under the authority of the Census and Statistics Act 1905 of the Commonwealth;CPI percentage change, for an applicable financial year, means the percentage change between – the CPI figure for Hobart for the December quarter of the previous financial year; and the CPI figure for Hobart for the December quarter of the financial year before the previous financial year.

A standing offer price may not be fixed under section 40(1), and an amendment of a standing offer price may not be made under section 40(4), unless – a draft of the standing offer price, or a draft amendment of the standing offer price, has been approved by the Regulator under subsection (3); and the standing offer price fixed, or the draft amendment made, is in the same terms as the draft of the standing offer price, or the draft amendment of the standing offer price, approved by the Regulator under subsection (3).

A regulated offer retailer may submit to the Regulator a draft standing offer price or a draft amendment of a standing offer price.

If a draft standing offer price, or a draft amendment of a standing offer price, is submitted to the Regulator under subsection (2), the Regulator must – approve, without modification, the draft standing offer price or the draft amendment of the standing offer price; or approve, with modification, the draft standing offer price or the draft amendment of the standing offer price; or refuse to approve the draft standing offer price or the draft amendment of the standing offer price.

The Regulator may only approve the draft standing offer prices, that are to be fixed by a regulated offer retailer under section 40 in accordance with a determination that specifies, in accordance with regulations made for the purposes of section 40AC, a pricing structure for such prices, if the prices are in accordance with the pricing structure.

The Regulator must not, under subsection (3), approve a standing offer price for an applicable financial year if the price so approved would be higher than the standing offer price, in relation to the same tariff, for the previous year, as increased by the CPI percentage change for the applicable financial year.