60FACarbon tax removal substantiation notices

60FA Carbon tax removal substantiation notices

Scope

(1) This section applies to an entity if the entity:

(a) is an electricity retailer that sells electricity to electricity customers; or

(b) is a natural gas retailer that sells natural gas to natural gas customers; or

(c) is a bulk SGG importer that sells synthetic greenhouse gas to SGG customers.

Carbon tax removal substantiation notice

(2) The Commission must, within 30 days after the Royal Assent day, by written notice given to the entity, require the entity:

(a) to give to the Commission, within the period specified in the notice, a written statement that explains:

(i) how the carbon tax repeal has affected, or is affecting, the entity’s regulated supply input costs; and

(ii) how reductions in the entity’s regulated supply input costs that are directly or indirectly attributable to the carbon tax repeal are reflected in the prices charged by the entity for regulated supplies of electricity, natural gas or synthetic greenhouse gas; and

(b) to do either or both of the following:

(i) give to the Commission, within the period and in the manner and form specified in the notice, information that substantiates the explanation set out in the statement;

(ii) produce to the Commission, within the period and in the manner specified in the notice, documents that substantiate the explanation set out in the statement.

(3) A notice under subsection (2) is to be known as a carbon tax removal substantiation notice.

(4) A period specified in a carbon tax removal substantiation notice must be 21 days after the notice is given.

(5) A carbon tax removal substantiation notice must explain the effect of:

(a) section 60FB; and

(b) section 60FC; and

(c) sections 137.1 and 137.2 of the Criminal Code.

Section does not limit section 60H

(6) This section does not limit section 60H (which is about the price‑related information‑gathering powers of the Commission).

Section does not limit section 155

(7) This section does not limit section 155 (which is about the general information‑gathering powers of the Commission).