41Amendment or revocation of declared electrical service price determination

41 Amendment or revocation of declared electrical service price determination

(1)  The Regulator may amend or revoke under section 40AD(7) of the Act a determination made under section 40AD(5) of the Act if, in the opinion of the Regulator, an electricity entity or authorised retailer to which the determination relates is materially adversely affected as a result of the making of an amendment or revocation of a transmission determination or a distribution determination.

(2)  The Regulator may amend or revoke under section 40AD(7) of the Act a determination made under section 40AD(5) of the Act if the Regulator is of the opinion –

(a) that the determination was made on the basis of information that was false or misleading in a material particular; or

(b) that there is a material error in the determination; or

(c) that –

(i) the electricity entity or authorised retailer to which the determination relates is affected materially and adversely by the determination as a result of an event which is beyond the entity's or retailer's reasonable control and was not taken into account in the terms of the determination; and

(ii) the benefits of amending or revoking the determination would outweigh any detriment to the electricity supply industry that might result from the amendment or revocation of the determination.

(3)  Subregulations (1) and (2) do not limit the circumstances in which the Regulator may amend or revoke under section 40AD(7) of the Act a determination made under section 40AD(5) of the Act.

(4)  An amendment or revocation under section 40AD(7) of the Act of a declared electrical service price determination takes effect on the date specified in the amendment or revocation.