NATIONAL ELECTRICITY (VICTORIA) ACT 2005 - SECT 16VJ Application of modified 2018 rate of return instrument

NATIONAL ELECTRICITY (VICTORIA) ACT 2005 - SECT 16VJ

    (1)     This section applies despite anything to the contrary in—

        (a)     the National Electricity (Victoria) Law; or

        (b)     the Rules; or

        (c)     an applicable 2016–2020 distribution determination.

    (2)     The rate of return on capital calculated in accordance with the 2018 rate of return instrument applies, subject to any modifications under subsection (3), to the making of an AER economic regulatory decision in relation to the determination extension period of an applicable 2016–2020 distribution determination.

    (3)     The AER, for the purposes of giving effect to Subdivision 3, may modify the application of the 2018 rate of return instrument to the making of an AER economic regulatory decision in relation to the determination extension period of an applicable 2016–2020 distribution determination.

    (4)     Without limiting subsection (3), a modification under that subsection may relate to—

        (a)     the formulas or methodologies set out in the 2018 rate of return instrument under which a return on debt trailing average portfolio calculation is determined;

        (b)     the methodology or criteria set out in the 2018 rate of return instrument under which a return on debt averaging period is determined.

    (5)     The AER must not make a modification under subsection (3) that is inconsistent with any applicable Order under this Division.

    (6)     The AER must publish any modification under subsection (3).

Subdivision 6—AER variations to applicable 2016–2020 distribution determinations

S. 16VK inserted by No. 28/2020 s. 3.