The Electricity Supply Amendment (Miscellaneous) Regulation 2007

The Electricity Supply Act 1995 (NSW) (Act) establishes a scheme by which the Independent Pricing and Regulatory Tribunal (IPART) determines regulated retail tariffs for the supply of electricity to small retail customers in New South Wales (being residential and small business customers consuming less than 160 MWh per annum) who have not elected to enter into a negotiated supply contract.

The Act also provides for the establishment, operation and management of an Electricity Tariff Equalisation Fund (ETEF). The object of the ETEF is to moderate the volatility in electricity wholesale prices for those New South Wales owned electricity retailers that are required to supply electricity at regulated tariffs (standard retail suppliers). The Act requires standard retail suppliers and New South Wales owned generators to participate in the ETEF by making and receiving payments in accordance with established rules.