121National energy market charge

121 National energy market charge

[Section 121 Repealed by No. 16 of 2003, s. 21, Applied:09 May 2003]

(1)  An annual charge is payable to the Crown by an electricity entity representing part or all of the cost of the State's funding commitments in respect of the AEMC.

(2)  The Minister, by order published in the Gazette, is to determine –

(a) the electricity entity that is liable for the charge; and

(b) the amount of the charge for the financial year in which the order is made.

(3)  In determining the amount of the charge for a financial year, the Minister must consider the expenditure incurred, or expected to be incurred, by the State in its funding commitments in respect of the AEMC in respect of that financial year.

(4)  The Minister must notify the electricity entity of the entity's liability for the NEMC and the amount of the charge.

(5)  [Section 121 Subsection (5) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] The NEMC is to be paid into an account in the Public Account, unless otherwise directed or approved by the Treasurer.