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CLAUSE NOTES
Electricity Supply Industry Amendment (Price Cap) Bill 2018
PART 1 - PRELIMINARY
Clause 1 Short title.
Clause 2 This clause provides that the Act will commence on the day that it receives Royal
Assent.
PART 2 - ELECTRICITY SUPPLY INDUSTRY ACT 1995 AMENDED
Clause 3 The Electricity Supply Industry Act 1995 is the Principal Act for the purposes of
Part 2 of the Bill.
Clause 4 This clause extends the application of the current retail price determination until
30 June 2021.
Clause 5 This clause inserts a new subclause 5 into section 41 of the Electricity Supply
Industry Act that provides that the Regulator must not approve standing offer
prices submitted to it by a regulated offer retailer unless the prices are no higher
than the existing tariffs indexed by the percentage change in the Consumer Price
Index for that applicable financial year.
A new subsection 1AA is also inserted which defines that the applicable financial
years to which the provision relates are 2018-19, 2019-20 and 2020-21 and also
defines the mechanism for how the change in CPI is to be determined.
PART 3 - ELECTRICITY SUPPLY INDUSTRY AMENDMENT (PRICING) ACT
2017 AMENDED
Clause 6 The Electricity Supply Industry Amendment (Pricing) Act 2017 is the Principal Act
for the purposes of Part 3 of the Bill.
Clause 7 This clause extends the period for which a WEP Order can be made by the
Minister under the Electricity Supply Industry Act by two years. This clause also
extends the requirement for an independent review of the operation of the WEP
order provisions in the Electricity Supply Industry Act by two years.
Clause 8 This clause extends the repeal of the Principal Act by two years.
PART 4 - REPEAL OF ACT
Clause 9 This Act will be repealed one year after its commencement.
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