Water and Sewerage Industry Act 2008

The Regulator must, by notice given to a regulated entity, require the regulated entity to submit a proposed price and service plan for regulated services to the Regulator for approval by not later than the date specified in the notice.

A regulated entity must submit a proposed price and service plan to the Regulator by the date specified in the notice given to the regulated entity under subsection (1). Fine not exceeding 1 000 penalty units.

The proposed price and service plan submitted under subsection (1) must include – proposed regulated services to be provided to customers; and any customer contract; and standards and conditions of service which are in compliance with the customer service code; and proposed prices for each regulated service; and any other matter required under this Act.

The proposed price and service plan submitted under subsection (1) may include – proposed annual revenue requirements; and projected capital and operational expenses; and supply and demand forecasts; and such other matters as required by the Regulator in guidelines issued under subsection (7).

The Regulator must approve a proposed price and service plan for a regulated entity if the Regulator is satisfied that the proposed price and service plan fulfils the requirements for a price and service plan as set out in guidelines issued under subsection (7) and any relevant price determination under section 66.

The Regulator may require amendments to be made to the proposed price and service plan, including amendments to ensure that the price and service plan complies with a price determination, before approving it.

A regulated entity may, without the approval of the Regulator, amend a proposed price, in relation to a service, that is set out, in relation to a year, in the entity's price and service plan, if the price as so amended does not exceed the maximum price, in relation to the service, that is specified, in relation to the year, in a price determination in relation to the entity.

The Regulator must issue guidelines to a regulated entity for the preparation of a proposed price and service plan.

The guidelines referred to in subsection (7) may – specify the requirements for a regulated entity to comply with when submitting a proposed price and service plan to the Regulator for approval; and specify the process for the preparation and approval of a proposed price and service plan, including the extent of public consultation and timelines and the subsequent publication of prices for each regulated service.

A price and service plan approved under subsection (5) is to relate to a regulatory period.

The Regulator may, by notice in writing given to a regulated entity, direct the regulated entity to publish a price and service plan approved under subsection (5), including such a plan as amended under this section.

A regulated entity must comply with a direction given to it under subsection (10). Fine not exceeding 50 penalty units.

The Treasurer may, by notice published in the Gazette, fix – the duration of the first regulatory period, which period is to commence on the first day after approval by the Regulator of a price and service plan; and the minimum duration of each subsequent regulatory period.

The Regulator is to declare, by notice published in the Gazette, the duration of each subsequent regulatory period, being a period which is not less than a minimum period specified by the Treasurer under this section.

A declaration made by the Regulator under subsection (13) must be made not less than 2 years before the end of each subsequent regulatory period.