Energy Coordination (Customer Contracts) Regulations 2004

In this regulation —

the Australian Stock Exchange Bank Bill Swap Rate (BBSW) having a term equal to or nearest to 90 days, as published on the first day of the relevant 90 day period referred to in subregulation (3); or

if the rate referred to in paragraph (a) is not published on that day, the rate published on the most recent day before that day.

A standard form contract that states that a customer is required to pay a security deposit must state that the retailer is required —

to keep security deposits paid to the retailer in a separate trust account; and

to identify those security deposits separately in the retailer’s accounting records.

A standard form contract that states that a customer is required to pay a security deposit must state that the retailer is required to pay interest to the customer on the security deposit, at the bank bill swap rate, that accrues daily and is capitalised every 90 days unless paid.