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 regulatory scheme includes requirements for ring-fencing, business segregation, transfer pricing, non-discriminatory wholesale electricity trading and the provision of standard products.
Since inception, the ERA has reviewed the operation of the EGRC regulatory scheme every year and prepared a report for the Minister for Energy that assessed the effectiveness of the scheme and made recommendations for improvement.
Following publication of the fourth EGRC regulatory scheme review, the State Government changed the timeframe of the review from annually to every two years.
Review of Synergy's Regulatory Scheme 2018-2020
The ERA is currently undertaking its fifth review of the EGRC regulatory scheme. This review will cover the calendar years 2018, 2019 and 2020 following changes to the scheme review requirements. The report is due to the Minister for Energy by 31 December 2021.