What it does
This Act creates the statutory architecture for modern South Australian electricity corporations, sets out their core functions, establishes the governance framework for an electricity transmission corporation, preserves and governs an industry superannuation scheme and trust deed, and supplies a statutory mechanism for transferring assets, liabilities and staff between electricity corporations. The Act authorises the Governor to establish an electricity transmission corporation by regulation (s 34), and gives transmission corporations corporate capacity (s 36), powers to act inside and outside the State (ss 38-39), and a duty to supply information to the Treasurer on request (s 40). The transmission corporation is declared a statutory corporation subject to the Public Corporations Act 1993 (s 37).
The Act defines electricity transmission and distribution functions in express terms (s 6 and s 7). Transmission and system-control functions include physically transmitting electricity, coordinating generation/transmission/distribution operation, controlling system security, generating for security-of-supply purposes, operating and administering wholesale market trading arrangements, trading, research and development, consultancy and commercialisation (s 6(2)). Distribution functions include distributing, supplying and retailing electricity, meeting obligations for security of supply, generating and trading electricity and fuels, energy-conservation activities, research and development, consultancy and commercialisation (s 7).
The governance model for a transmission corporation is set out in Part 4, Division 2. A board is created as the corporation’s governing body (s 42). The board comprises four Governor-appointed members and the chief executive officer, with gender representation minimums (at least one woman and one man) and rules for chairing, quorum and decision-making (s 42, s 46). Directors’ terms, removal and vacancy rules are provided (s 43-45). The board appoints the chief executive officer subject to Ministerial approval (s 47(1)).