Notified Electricity Prices 2012-13
On 13 September 2011, the Electricity Act 1994 (the Electricity Act) was amended to replace the previous Benchmark Retail Cost Index approach to adjusting regulated retail electricity prices with a new price determination process.
On 22 September 2011, the Minister for Energy and Water Utilities delegated to the Authority, under section 90AA(1) of the Electricity Act, the task of determining regulated retail electricity prices for 2012-13.
The new price determination process is based on a network (N) plus retail (R) cost build-up approach, where network costs are treated as a pass-through and retail costs are determined by the Authority.
The new price determination process builds on the Authority’s Review of Regulated Retail Electricity Tariffs and Prices. Further information on that review can be found here.
The Ministerial Delegation requires that the Authority publish:
- a Draft Methodology Paper no later than December 2011;
- a Draft Price Determination on 30 March 2012; and
- a Final Price Determination by 31 May 2012.
On 11 November 2011, the Authority released a Draft Methodology Paper on regulated retail electricity prices for 2012-13, which can be accessed here.
On 25 November 2011, the Authority conducted a public workshop to discuss its Draft Methodology Paper and the Draft Methodology Report prepared by the Authority’s consultant, ACIL Tasman. The workshop was attended by 36 stakeholders representing a range of organisations. Information and presentations from the workshop can be accessed here.
Ministerial Delegation
