Regulation Impact Statement Updates

Reducing customers’ switching times

20th December 2019

COAG Decision Regulation Impact Statement – Australian Energy Market Commission

On 19 December 2019, the Australian Energy Market Commission (AEMC) released the final rules titled National Electricity Amendment (Reducing customers' switching times) Rule 2019 and National Energy Retail Amendment (Reducing customers' switching times) Rule 2019 and accompanying final rule determination.

The final rule provides the Australian Energy Market Operator (AEMO) with flexibility to...

Application of the Regional Reference Node Test to the Reliability and Emergency Reserve Trader

COAG

20th December 2019

COAG Decision Regulation Impact Statement – Australian Energy Market Commission

On 19 December 2019, the Australian Energy Market Commission (AEMC) released the final rule determination and final rule titled National Electricity Amendment (Application of the Regional Reference Node Test to the Reliability and Emergency Reserve Trader) Rule 2019, to create transparency, predictability and consistency for the market, and remove as far as possible the need for Australian Energy Market...

Threshold for Participant Compensation Following Market Intervention

COAG

20th December 2019

COAG Decision Regulation Impact Statement – Australian Energy Market Commission

On 19 December 2019, the Australian Energy Market Commission (AEMC) released the final rule determination and final rule titled National Electricity Amendment (Threshold for Participant Compensation Following Market Intervention) Rule 2019.

The final rule relates to the compensation framework which operates to ensure participants who have been directed by the Australian Energy Market Operator (AEMO...

Independent Price Regulation of Heavy Vehicle Charges

COAG

17th December 2019

COAG Decision Regulation Impact Statement – Transport and Infrastructure Council

On 22 November 2019, the Transport and Infrastructure Council of the Council of Australian Governments (COAG) agreed to develop the next stage of heavy vehicle road reform [PDF document], including the independent setting of heavy vehicle charges, for consultation and further approvals. This follows on from the November 2018 decision to develop a national service level standards framework for roads.

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An economy-wide cash payment limit

Aust Gov

17th December 2019

Independent Review – Department of the Treasury

On 19 September 2019, the Minister for Housing and Assistant Treasurer introduced the Currency (Restrictions on the Use of Cash) Bill 2019. The proposed legislation would implement a recommendation of the Final Report of the Black Economy Taskforce, which the Government announced it would adopt in its response to the Taskforce’s Final Report in the 2018-19 Budget.

Under the proposed legislation, a cash payment limit of $10,000...

Short Term Forward Market for electricity derivatives

COAG

13th December 2019

COAG Consultation Regulation Impact Statement – Australian Energy Market Commission

On 12 December 2019, the Australian Energy Market Commission (AEMC) released a draft rule determination for the Short Term Forward Market rule change request (ERCO259). The AEMC has determined not to make a draft rule in relation to introducing a voluntary short term forward market (STFM) in the national electricity market (NEM).

On 20 December 2018, the Australian Energy Market Operator (AEMO)...

National register of enduring power of attorney instruments

COAG

12th December 2019

Non-compliance with COAG’s best practice regulation requirements – Council of Attorneys-General (CAG)

On 29 November 2019, the Council of Attorneys-General (CAG) agreed to pursue a staged approach to enduring power of attorney reform for financial decisions, first focusing on law reforms to support the establishment of a mandatory national register of enduring power of attorney instruments, followed by further consideration of reforms to enhance safeguarding provisions and enhance...

Demand Management Incentive Scheme and Innovation Allowance for TNSPs

COAG

6th December 2019

COAG Decision Regulation Impact Statement – Australian Energy Market Commission

On 5 December 2019, the Australian Energy Market Commission (AEMC) released a final rule determination in which it decided to apply a demand management innovation allowance mechanism (DMIA) to electricity transmission network service providers (TNSPs).

Research and development (R&D) in energy transmission can deliver overall benefits to consumers in the long term, but imposes high up-front...

Product Grants and Benefits Administration Regulations 2019

Aust Gov

29th November 2019

Remaking of sunsetting instrument without significant amendments – Department of the Treasury

On 5 September 2019, the Governor‑General remade without significant amendments the Product Grants and Benefits Administration Regulations 2000, which were due to sunset on 1 October 2019. The newly remade Product Grants and Benefits Administration Regulations 2019 are scheduled to sunset on 1 October 2029.

The Regulations prescribe additional requirements for registration to be...

A New Tax System (Goods and Services Tax) Amendment (Transition) Regulations 2019

Aust Gov

29th November 2019

Remaking of sunsetting instrument without significant amendments – Department of the Treasury

On 19 September 2019, the Governor‑General made the A New Tax System (Goods and Services Tax) Amendment (Transition) Regulations 2019. The Regulations amend the A New Tax System (Goods and Services Tax) Regulations 2019 to continue provisions from the A New Tax System (Goods and Services Tax Transition) Regulations 2000 that may have some further operation, and which were due to sunset on 1...