(1)  In this regulation –

regulated service means a service to which a transmission revenue cap determination applies;

relevant code means –

(a) at any time before the NEM entry time, the Code; or

(b) at any time on or after the NEM entry time, the National Electricity Code.

(2)  In making a declared electrical service price determination, the Regulator is to give effect to the principle that the cost of an electricity entity obtaining a regulated service that is necessary to enable the provision of the declared electrical service that is the subject of the declared electrical service price determination is to be calculated by taking into account the price or charge determined by the electricity entity supplying the regulated service in accordance with the relevant code and any relevant transmission revenue cap determination (as adjusted from time to time in accordance with Division 3 of Part 2 ).

(3)  In making a declared electrical service price determination relating to a declared electrical service that is or includes the sale and supply by Aurora Energy to tariff customers of electricity, the Regulator is to give effect to the following principles:

(a) the principle that, during the period commencing on 1 January 2004 and ending at the NEM entry time, the price which Aurora Energy pays for electricity used for that sale and supply to tariff customers is equal to the price that it was charged, immediately before that period, by the Hydro-Electric Corporation in accordance with a pricing order, as adjusted to take into account changes in the Consumer Price Index;

(b) the principle that, after the NEM entry time and while a relevant vesting agreement is in force, the price which Aurora Energy pays for electricity used for that sale and supply to tariff customers is equal to the fixed price, within the meaning of that vesting agreement, as adjusted from time to time in accordance with that vesting agreement.

(4)  In making a declared electrical service price determination relating to a declared electrical service that is or includes the sale and supply to tariff customers of electricity provided by Aurora Energy, if a relevant vesting agreement is in force the Regulator is to assume that all of the electricity used for that sale and supply to tariff customers is subject to that vesting agreement.