Victorian Current Acts Victorian Current ActsS. 40FBB(1) amended by No. 1/2017 s. 5(2).
(1) The Commission may determine one or more rates for the purposes of section section 40FBA(a).
S. 40FBB(2) substituted by No. 1/2017 s. 5(3).
(2) A rate determined under subsection (1) must be—
(a) determined not later than 28 February in the financial year preceding the financial year in which it is to apply; and
(b) published in the Government Gazette not later than that date.
S. 40FBB(3) amended by No. 1/2017 s. 5(4)(a).
(3) In determining a rate for the purposes of section 40FBA(a), the Commission must have regard to—
(a) prices of electricity in the wholesale electricity market; and
S. 40FBB(3)(b) amended by No. 1/2017 s. 5(4)(b).
(b) any distribution and transmission losses avoided in Victoria by the supply of small renewable energy generation electricity; and
S. 40FBB(3)(c) inserted by No. 1/2017 s. 5(4)(c).
(c) the following avoided costs—
(i) the avoided social cost of carbon;
(ii) the avoided human health costs attributable to a reduction in air pollution.
S. 40FBB(3A) inserted by No. 1/2017 s. 5(5).
(3A) If an Order under subsection (3B) is in effect, the avoided costs that the Commission must have regard to under subsection (3) are the avoided costs determined in accordance with the methodology or factor specified in the Order for the relevant avoided costs.
S. 40FBB(3B) inserted by No. 1/2017 s. 5(5).
(3B) The Governor in Council, by Order published in the Government Gazette, may specify a methodology or factor for the determination of—
(a) the avoided social cost of carbon; or
(b) the avoided human health costs attributable to a reduction in air pollution.
(4) A determination of the Commission under this section is not a determination for the purposes of the Essential Services Commission Act 2001 .
S. 40FC inserted by No. 41/2009 s. 5.