The EGRC regulatory scheme was put in place with the merger of Verve Energy and Synergy, which became the Electricity Generation and Retail Corporation, and began 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 by Synergy of standard products.
Each year we review the operation of the EGRC regulatory scheme and prepare 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.