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 EGRC regulatory scheme includes requirements for ring-fencing, business segregation, transfer pricing, non-discriminatory wholesale electricity trading and the provision of standard products.
Each year, the ERA reviews the operation of the EGRC regulatory scheme and prepares a report for the Minister for Energy assessing its effectiveness and making recommendations for improvements.
Review of Synergy's Regulatory Scheme 2017
The ERA is beginning its fourth review of the scheme. A discussion paper was published on 13 March 2018 to assist interested parties in preparing submissions. The submission period closed on Tuesday 24 April 2018. The ERA published the submissions it received in response to its discussion paper on 30 April 2018.