43LApplication of approved methodologies

43L Application of approved methodologies

(1)  The Regulator must publish guidelines that set out the process to be followed by the Hydro-Electric Corporation in applying an approved methodology in a contract that is in an approved standard form.

(2)  The Hydro-Electric Corporation, in applying an approved methodology in a contract that is in an approved standard form, is to comply with any guidelines published under subsection (1) .

(3)  The Regulator is to monitor and report on –

(a) the offering, and entering into, by the Hydro-Electric Corporation, of contracts in accordance with section 43I ; and

(b) the calculation of prices, to be charged by the Hydro-Electric Corporation in accordance with an approved methodology, in a contract that is in an approved standard form.