The Electricity Generation and Retail Corporation (EGRC) regulatory scheme was put in place to manage the merger of Verve Energy and Synergy, which became the Electricity Generation and Retail Corporation, trading as Synergy, on 1 January 2014.The regulatory scheme includes requirements for ring-fencing, business segregation, transfer pricing, non-discriminatory wholesale electricity trading and the provision of standard products.
Since inception, the ERA has reviewed the operation of the EGRC regulatory scheme every year and prepared a report for the Minister for Energy that assessed the effectiveness of the scheme and made recommendations for improvement.
Following publication of the fourth EGRC regulatory scheme review, the State Government changed the timeframe of the review from annually to every two years.
Review of Synergy's Regulatory Scheme 2021-2023
The sixth review of the EGRC regulatory scheme covers the period from 2021 to 2023. On 15 September 2023, the ERA published a discussion paper for stakeholder consultation and sought feedback by 13 October 2023. The ERA received six submissions and considered these views in preparing its final report for the Minister for Energy.
On 6 December 2023, the ERA submitted its report to the Minister for Energy.
The Minister for Energy tabled the report in both Houses of Parliament on 14 May 2024.
