130AER’s powers

130 AER’s powers

130 AER’s powers

(1) If the AER receives notice of or otherwise becomes aware of any event, circumstance or matter that it has reason to believe may or will affect, or give rise to some risk of affecting, continuity of the sale of energy to a retailer’s customers, the AER may act under this Division.

(2) Events, circumstances or matters for the purposes of this Division include (without limitation) any of the following—

(a) the events and circumstances that constitute a RoLR event;

(b) any material default by the retailer in provision of required credit support to a distributor under the NER or NGR as appropriate;

(c) any material default by the retailer in payment of network charges;

(d) any other material default by the retailer with respect to its obligations under energy laws with respect to the payment of money, the provision of securities or otherwise of a financial nature.

(3) It is not a prerequisite for the AER to act under this Division that an event, circumstance or matter has come into existence, and the AER may instead so act if it has reason to believe that there is some risk that the event, circumstance or matter may come into existence.

(4) In acting under this Division the AER may do any of the following—

(a) request information (financial information) from the retailer including (but not limited to) any of the following—

(i) details of any parent company guarantees;

(ii) details of cash flow;

(iii) details of amounts owing to distributors;

(iv) details of the retailer’s current financial position together with the most recent financial statements of the retailer;

(b) subject to and in accordance with the confidentiality provisions applicable to this Division—

(i) consult with AEMO; and

(ii) for that purpose disclose some or all of the financial information to AEMO and its officers or employees.

(5) If the AER has reason to believe that there is a risk of a RoLR event, the AER may, subject to and in accordance with the confidentiality provisions applicable to this Division, do any of the following—