Electricity Supply Industry Amendment (Pricing) Act 2017
An Act to amend the Electricity Supply Industry Act 1995
[Royal Assent 2 June 2017]
Be it enacted by Her Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:
This Act may be cited as the Electricity Supply Industry Amendment (Pricing) Act 2017 .
This Act commences on the day on which this Act receives the Royal Assent.
In this Act, the Electricity Supply Industry Act 1995 is referred to as the Principal Act.
The amendment effected by this section has been incorporated into the authorised version of the Electricity Supply Industry Act 1995 .
The amendment effected by this section has been incorporated into the authorised version of the Electricity Supply Industry Act 1995 .
The amendment effected by this section has been incorporated into the authorised version of the Electricity Supply Industry Act 1995 .
7. Review of operation of certain provisions and repeal
(1) In this section –commencement day means the day on which sections 40ABA and 40ABB of the Principal Act commence;independent review means a review carried out by persons who –(a) in the Minister's opinion, are appropriately qualified for that task; and(b) include one or more persons who are not employees of the State or of any agency of the State;relevant provisions means –(a) section 40AB(3), (3A) and (3B) of the Principal Act; and(b) sections 40ABA and 40ABB of the Principal Act.(2) The Minister, within the 42-month period after the commencement day, is to cause –(a) an independent review of the operation of the relevant provisions to be carried out; and(b) a written report of the review to be provided to him or her.(3) The Minister is to cause a copy of the report to be tabled in each House of Parliament within 5 sitting-days of that House after the report is provided to the Minister.(4) Subsection (5) has effect unless each House of Parliament –passes a motion declaring that the subsection has no effect.(a) after the report is tabled in the House; and(b) before 4 years after the commencement day –(5) Unless both Houses of Parliament declare that this subsection is of no effect, on the day 4 years after the commencement day, the Principal Act is amended as follows:(a) section 3 is amended by omitting the definition of WEP order;(b) section 40AB is amended by omitting subsections (3), (3A) and (3B) and substituting the following subsection:(3) For the purposes of this section, the wholesale electricity costs of a regulated offer retailer in relation to the provision of standard retail services consist of the costs of the retailer in purchasing electricity for the purposes of providing those services, including any adjustment to the costs that would be made if the regulated offer retailer and the Hydro-Electric Corporation were to enter into a contract that –(a) was a contract in an approved standard form determined under section 43G(1) for a load following swap; and(b) contained prices calculated in accordance with the approved methodology in relation to contracts in that approved standard form; and(c) related to the same number of units of electricity as the number of units of electricity purchased by the retailer for the purposes of providing those services.(c) sections 40ABA and 40ABB are repealed.
This Act is repealed on the day that is 5 years after the day on which it commences.