153EProhibited conduct—retail pricing

153E Prohibited conduct—retail pricing

(1) A corporation contravenes this section if:

(a) the corporation offers to supply electricity, or supplies electricity, to small customers; and

(b) the corporation fails to make reasonable adjustments to the price of those offers, or to the price of those supplies, to reflect sustained and substantial reductions in its underlying cost of procuring electricity.

Note 1: The Treasurer cannot make a contracting order in respect of a contravention of this section (see paragraph 153W(e)).

Note 2: The Treasurer cannot apply for a divestiture order in respect of a contravention of this section (see paragraph 153ZA(e)).

(2) Despite subsection (1), the corporation does not contravene this section if the price is a standing offer price (within the meaning of the Competition and Consumer (Industry Code—Electricity Retail) Regulations 2019).

(3) Despite subsection (1), the corporation does not contravene this section if the adjustments would contravene:

(a) an Act of the Commonwealth, a State or a Territory; or

(b) an instrument made under such an Act.