54GAnnual regulatory costs etc

54G Annual regulatory costs etc (1) For this part, the regulatory cost for an energy industry sector for a year is the sum of the amounts determined by the administrator to be— (a) the national regulatory cost to be applied to the sector for the (b) the local regulatory cost to be applied to the sector for the year.

(2) For this part, the net regulatory cost for an energy industry sector for a year is the regulatory cost for the sector for the year less the total amount of annual licence fees determined under section 45 (Determination of fee) for all energy utilities in the sector for the year. (3) For this part, the base amount for an energy industry sector is the minimum additional cost of regulating 1 more energy utility in the energy industry sector for a period of 1 year. 54GA Regulatory cost—determinations (1) The administrator must, before 1 October in a levy year, determine— (a) the estimated net regulatory cost to be applied to each energy industry sector for the levy year; and (b) the actual net regulatory cost to be applied to each energy industry sector for the previous levy year. (2) The administrator must, before 1 October in a year and every 5 years after the first determination, determine the base amount for an energy industry sector. (3) The administrator may amend a determination under subsection (2) in extraordinary circumstances. Example—extraordinary circumstances A large number of energy utilities unexpectedly enter the energy industry sector. (4) A determination under this section is a notifiable instrument.