What is a regulatory reset?
As electricity distribution businesses, CitiPower, Powercor and United Energy are regulated according to five-year regulatory periods. This process is referred to as the revenue determination or regulatory reset, and is governed by the National Electricity Rules and administered by the Australian Energy Regulator. In January, 2020 we submitted the 2021-2026 regulatory reset.
What are some of the key topics?
Affordability is at the top of the priority list for everyone. For us, it’s important to ensure our investment priorities strike the right balance between safety, reliability, growth and affordability.
We’re constantly looking at how we can continue to provide a high quality service to a growing population, and then make it even better.
One thing is for certain – the energy market is evolving. As our market changes, so do the options for storing and generating electricity.
Each year we connect residential and commercial customers to our grid for electricity, solar and embedded networks.
Part of our role in the communities in which we operate is keeping people safe. This is done through our public lighting and community partnerships.
What is a Tariff Structure Statement?
Like the regulatory reset process, our Tariff Structure Statements go through a formal process of assessment. The assessment determines our revenue for the regulatory period.
Who determines whether your Regulatory Reset and Tariff Structure Statement meets the needs of customers?
The Australian Energy Regulator assesses our Regulatory Proposals within the National Electricity Rules as part of the regulatory reset process.
Why have you started planning for 2026?
Our Regulatory Proposals were due to the Australian Energy Regulator in January 2020. While it seems like a long time to plan, we need to take into account a range of complex considerations as well as the needs of our customers and stakeholders. This includes a process to seek feedback and incorporate it into our decision making.
We’ve already had 6,500 interactions with customers, consumers and stakeholders, and we’ll continue listening beyond the submission of our proposal.