The fifth review of the EGRC regulatory scheme covered years 2018, 2019 and 2020 following changes to the scheme review requirements. On 31 August 2021, the ERA published a discussion paper for stakeholder consultation. The ERA took stakeholders’ views into account when preparing the final report.
The report was delivered to the Minister for Energy on 17 December 2021 and it was tabled in Parliament on 5 April 2022.
The ERA recommended that the maximum spread be reduced from 20 per cent to 15 per cent in July 2022, and to 10 per cent in July 2023. The phased transition would provide Synergy time to improve its pricing method while still allowing Synergy a reasonable profit on transactions.