sec.46Deciding application for geothermal royalty decision

sec.46 Deciding application for geothermal royalty decision

The Minister must make a geothermal royalty decision for an application made under section 45 . The geothermal royalty decision may state— a method or formula— for deciding the market value of the geothermal energy; or for working out a particular toll, tariff or other charge paid or payable by the geothermal producer; or for adjusting the market value of the geothermal energy or the tolls, tariffs or other charges in particular circumstances; or for working out any other component of the wellhead value of the geothermal energy; and the period for which the geothermal royalty decision applies; and if applicable—when the geothermal royalty decision is to be reviewed. In making the geothermal royalty decision, the Minister may consider the following matters— the amount received for geothermal energy sold in similar circumstances; how the value of the geothermal energy can be adjusted to reflect changes to the market value of geothermal energy; the expenses likely to be incurred by the geothermal producer in arms-length transactions at market value; the period for which the geothermal royalty decision, or aspects of the decision, will apply; the need for any future adjustment of the geothermal royalty decision or aspects of the decision; any submissions made to the Minister by the geothermal producer in relation to a component of the wellhead value of the geothermal energy; any other matter the Minister considers relevant. The Minister must give the geothermal producer written notice of the geothermal royalty decision and the reasons for the decision. (sec.46-ssec.1) The Minister must make a geothermal royalty decision for an application made under section 45 . (sec.46-ssec.2) The geothermal royalty decision may state— a method or formula— for deciding the market value of the geothermal energy; or for working out a particular toll, tariff or other charge paid or payable by the geothermal producer; or for adjusting the market value of the geothermal energy or the tolls, tariffs or other charges in particular circumstances; or for working out any other component of the wellhead value of the geothermal energy; and the period for which the geothermal royalty decision applies; and if applicable—when the geothermal royalty decision is to be reviewed. (sec.46-ssec.3) In making the geothermal royalty decision, the Minister may consider the following matters— the amount received for geothermal energy sold in similar circumstances; how the value of the geothermal energy can be adjusted to reflect changes to the market value of geothermal energy; the expenses likely to be incurred by the geothermal producer in arms-length transactions at market value; the period for which the geothermal royalty decision, or aspects of the decision, will apply; the need for any future adjustment of the geothermal royalty decision or aspects of the decision; any submissions made to the Minister by the geothermal producer in relation to a component of the wellhead value of the geothermal energy; any other matter the Minister considers relevant. (sec.46-ssec.4) The Minister must give the geothermal producer written notice of the geothermal royalty decision and the reasons for the decision.