New South Wales Consolidated Acts

ELECTRICITY SUPPLY ACT 1995 - SECT 43EO

43EO Rules for payments to and from Fund

(1) The Treasurer, after consulting with the Minister, may approve rules for or with respect to payments to and from the Fund.

(2) The rules may make provision for or with respect to the following matters:

(a) payments to the Fund by standard retail suppliers,

(b) payments to standard retail suppliers from the Fund,

(c) payments to the Fund by electricity generators,

(d) payments to the Fund by Snowy Hydro Limited,

(e) payments to electricity generators from the Fund,

(f) payments to the Consolidated Fund from the Fund,

(g) payments to standard retail suppliers for reimbursement of costs payable by them under section 87A for audits by the Tribunal under section 87 (1A),

(h) the times at which, and manner in which, payments are to be made,

(i) the determination of payment amounts,

(j) the circumstances in which payments to or from the Fund are to be made by or to standard retail suppliers, electricity generators or the Consolidated Fund, having regard to the following matters:

(i) the wholesale costs of electricity to standard retail suppliers,

(ii) the level of regulated retail tariffs payable by small retail customers in comparison with those wholesale costs,

(iii) the general level of the Fund,

(k) matters ancillary to or consequential on the matters set out in paragraphs (a)-(j).

(3) For the purposes of the determination of payment amounts and other matters related to the administration of the rules, the rules may require a standard retail supplier or an electricity generator to provide to the Ministerial Corporation information, or access to information.

(4) A rule with respect to the payment to the Fund of amounts by Snowy Hydro Limited may provide for the payment of an annual amount, to be deducted from the dividend payable to the eligible Ministers who hold Snowy Hydro Limited shares for and on behalf of the State of New South Wales, before the payment of that dividend to the Consolidated Fund.

(5) A rule may make provision for or with respect to a matter by applying, adopting or incorporating, with or without modification, the provisions of any Act or statutory rule or any other publication, whether of the same or of a different kind.

(6) A rule may:

(a) apply generally or be limited in its application by reference to specified exceptions or factors, or

(b) apply differently according to different factors of a specified kind, or

(c) authorise any matter or thing to be from time to time determined, applied or regulated by any specified person or body.

(7) The Treasurer, after consulting with the Minister, may from time to time approve amendments to the rules or the revocation of rules.

(8) If a rule, or a rule amending or revoking a rule, is approved by the Treasurer:

(a) written notice of the approval of the rule must be published in the Gazette, and

(b) the rule takes effect on the day on which notice is so published or, if a later day is specified in the rule for commencement, on the later day so specified, and

(c) the Ministerial Corporation must give a copy of the rule to each standard retail supplier and electricity generator.

(9) A copy of the rules approved under this section, as in force for the time being, is to be published on the Government’s Internet web page.