40AADetermination of certain maximum prices

40AA Determination of certain maximum prices

[Section 40AA Inserted by No. 5 of 2013, s. 12, Applied:01 Jun 2013]

(1)  The Regulator must determine –

(a) themaximum prices that may be charged by a regulated offer retailer under standard retail contracts in respect of small customers; or

(b) a method of determining the maximum prices that may be charged by a regulated offer retailer under standard retail contracts in respect of small customers.

(2)  The Regulator must make a separate determination under subsection (1) in relation to each regulated offer retailer.

(3)  The Regulator may amend or revoke a determination under subsection (1) .

(4)  An amendment to a determination under subsection (1) may not be made if the determination, as so amended, would be a determination that did not take into account the principles set out in section 40AB .

(5)  The regulations may make provision in relation to –

(a) the making of determinations under this section; and

(b) the matters that are to be considered in taking into account the principles set out in section 40AB(1) ; and

(c) the amending or revocation of determinations under this section; and

(d) the making of adjustments to determinations under this section; and

(e) the charging to an electricity entity, or a regulated offer retailer, of costs incurred by the Regulator in exercising the Regulator's powers under this Division or the regulations.

(6)  A determination made under this section remains in force for the period determined in accordance with the regulations.

(7)  If the regulations make provision in relation to the making, amendment or revocation of a determination under this section, a determination under this section that is to be made, amended or revoked, is to be, respectively, made, amended or revoked in accordance with the regulations.