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Question and Answer Tracking Details

1903 - POWER NETWORKS

Hornery, Sonia to the Minister for Industry, Resources and Energy

What are the implications of the recent pricing decision by the Australian Energy Regulator on the Government's election commitment to sell long-term leases in the power networks?
Answer -

The Government is proceeding with the lease of the electricity networks as regulated businesses under the National Electricity Law and Rules. Short term, five-yearly variations in the network revenue determinations by the Australian Energy Regulator will be considered by bidders in the context of the proposed 99 year lease.

The boards and executive management of the electricity networks, including that of Essential Energy which will not be leased, will operate their businesses within the requirements of the determination until the next determination commences on 1 July 2019, after which the businesses will be operated in compliance with that and every subsequent five-year determination.

Question asked on 10 November 2015 (session 56-1) and printed in Questions & Answers Paper No. 41
Answer received on 18 December 2015 and printed in Questions & Answers Paper No. 48

The Parliament of New South Wales acknowledges and respects the traditional lands of all Aboriginal people, and pays respects to all Elders past and present. We acknowledge the Gadigal people as the traditional custodians of the land on which the Parliament of New South Wales stands.