Water and Sewerage Industry Act 2008

In this section – pricing principles means the pricing principles specified in section 68(1) and any pricing principles prescribed in accordance with section 68(2); transition period means the period specified in the regulations to be the transition period for the purposes of this section.

The pricing principles are not required to be applied, during the transition period, in – the making of a price determination; and the formulation or approval of a price and service plan that is required under this Act to be in accordance with the price determination – to the extent that the application of those principles would, during the transition period – result in a significant impact, because of the rate of change of prices, on customers or particular classes of customers; or adversely affect – the sustainability of a regulated entity in so far as it provides regulated services; or the ability of a regulated entity to deliver regulated services.

If the Regulator decides not to apply a pricing principle to an extent during the transition period in accordance with subsection (2), the Regulator must publish the Regulator's reasons for not applying the principle to that extent.