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Energy (Infrastructure Facilitation) Act 2024
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This section applies in relation to the hub transmission network for a regional energy hub if the responsible Ministers are satisfied— the transmission network service provider has acted reasonably and prudently in giving access to the transmission network, including, for example, in relation to negotiating connection agreements and deciding fees and charges under section 70 ; and the transmission network service provider has used the service provider’s best endeavours to recover the establishment and operational costs for the transmission network from participants by charging fees and charges under section 70 or otherwise; and there is a shortfall between— the establishment and operational costs incurred by the transmission network service provider; and the amount of fees and charges paid or payable by participants under section 70 or otherwise; and there is no reasonable way for the transmission network service provider to recover the shortfall other than through charges for prescribed transmission services provided by the service provider. The amount of the shortfall must be worked out using— the present value of the establishment and operational costs, taking into account any inflation since any of the costs were incurred; and the present value of the fees and charges paid by participants under section 70 or otherwise, taking into account any inflation since the fees and charges were paid; and the present value of the fees and charges that will be payable by participants under section 70 or otherwise in the future, disregarding any future inflation. The Minister may, by notice and, if the Minister is not the Treasurer, with the Treasurer’s approval, declare that all or a part of the shortfall may be recovered by the transmission network service provider through charges for prescribed transmission services provided by the service provider. The declaration must state— the amount of the shortfall that may be recovered through charges for prescribed transmission services provided by the transmission network service provider; and if, under subsection (2) , the amount of the shortfall is worked out using the present value of an amount mentioned in the subsection—the way the present value is worked out; and the period over which the amount mentioned in paragraph (a) may be recovered as mentioned in the paragraph; and how the amount mentioned in paragraph (a) may be adjusted over the period mentioned in paragraph (c) to allow for future inflation; and the reasons why the responsible Ministers are satisfied of the matter mentioned in subsection (1) (d) ; and any other matter prescribed by regulation. A notice under subsection (3) is subordinate legislation. s 71 amd 2025 No. 30 s 49 (sec.71-ssec.1) This section applies in relation to the hub transmission network for a regional energy hub if the responsible Ministers are satisfied— the transmission network service provider has acted reasonably and prudently in giving access to the transmission network, including, for example, in relation to negotiating connection agreements and deciding fees and charges under section 70 ; and the transmission network service provider has used the service provider’s best endeavours to recover the establishment and operational costs for the transmission network from participants by charging fees and charges under section 70 or otherwise; and there is a shortfall between— the establishment and operational costs incurred by the transmission network service provider; and the amount of fees and charges paid or payable by participants under section 70 or otherwise; and there is no reasonable way for the transmission network service provider to recover the shortfall other than through charges for prescribed transmission services provided by the service provider. (sec.71-ssec.2) The amount of the shortfall must be worked out using— the present value of the establishment and operational costs, taking into account any inflation since any of the costs were incurred; and the present value of the fees and charges paid by participants under section 70 or otherwise, taking into account any inflation since the fees and charges were paid; and the present value of the fees and charges that will be payable by participants under section 70 or otherwise in the future, disregarding any future inflation. (sec.71-ssec.3) The Minister may, by notice and, if the Minister is not the Treasurer, with the Treasurer’s approval, declare that all or a part of the shortfall may be recovered by the transmission network service provider through charges for prescribed transmission services provided by the service provider. (sec.71-ssec.4) The declaration must state— the amount of the shortfall that may be recovered through charges for prescribed transmission services provided by the transmission network service provider; and if, under subsection (2) , the amount of the shortfall is worked out using the present value of an amount mentioned in the subsection—the way the present value is worked out; and the period over which the amount mentioned in paragraph (a) may be recovered as mentioned in the paragraph; and how the amount mentioned in paragraph (a) may be adjusted over the period mentioned in paragraph (c) to allow for future inflation; and the reasons why the responsible Ministers are satisfied of the matter mentioned in subsection (1) (d) ; and any other matter prescribed by regulation. (sec.71-ssec.5) A notice under subsection (3) is subordinate legislation.