Webinar – The Keys to Regulation for Embedded Networks

Webinar – The Keys to Regulation for Embedded Networks

AU Energy Compliance
In this webinar, lawyer and regulatory energy expert Alex Silcock provides a review of regulatory arrangements for embedded networks titled "The Keys to Regulations for Embedded Networks" including key takeaways for Embedded Network Operators, Exempt Sellers and On-Market and Off-Market Retailers. The Keys to Regulations for Embedded Networks The Compliance Quarter team is dedicated to providing excellent service to our clients across the energy sector and this includes insight into current and potential future regulation within the industry. If you have any questions about embedded networks or the sector in general, please do not hesitate to contact us. Below you can view a video of the webinar along with the presentation slides and a full transcript. Background and Current Regulatory Framework Definition of Embedded Network Consumer Protection Benefits of Embedded…
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What are the rules for embedded networks in Western Australia?

What are the rules for embedded networks in Western Australia?

AU Energy Compliance
The regulatory landscape for embedded networks in Australia is complicated. There are four separate regulatory frameworks: New South Wales, South Australia, Australian Capital Territory, Queensland, Tasmania (National Energy Customer Framework jurisdictions); Victoria; Northern Territory; and Western Australia. By Dr Drew Donnelly, Compliance Quarter. Within each framework, there are significant jurisdictional variations (for example, strata legislation in NSW and Queensland impose different obligations on embedded networks). Furthermore, some frameworks overlap with the others (for example, a Victorian embedded network may require both a network exemption from the Australian Energy Regulator and a network activity exemption from the Essential Services Commission (Victoria)). In today’s article, we look at the key features of the regulatory framework for embedded networks in Western Australia (WA). What is an embedded network? An electricity embedded network is…
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Release of New AER Life Support Registration Guide

Release of New AER Life Support Registration Guide

AU Energy Compliance
AER has just released a new Life Support Registration Guide (the Guide) ahead of the commencement of the new Life Support National Energy Retail Rules (NERR) on the 1 February 2019. This update summaries the new registration guide and what retailers need to do to comply with it. By Dr Drew Donnelly, Compliance Quarter.  1.The New Life Support Rules The new rules: provide customers with life support protections from the time they inform their retailer or distributor that they rely on life support equipment until they are deregistered; require the registration process owner (the retailer or distributor contacted by the customer) to: * notify customers of their rights and obligations under the life support rules; * follow a prescribed process for obtaining medical confirmation of customer eligibility to be on…
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Webinar – Two New Codes for Banking and Lending

Consumer, Financial Services
In our recent webinar focusing on the finance industry, regulatory specialist Dr Drew Donnelly consider two new codes for banking and lending. This year has seen the finalisation of two distinct codes covering lending and banking businesses in Australia: The Banking Code of Conduct 2019 (Banking Code) and the Code of Lending Practice: AFIA Online Small Business Lenders (Lending Code). This webinar forms part of our series looking at the role of fintech, financial services, and the regulatory and compliance environments that surround them. If you would like to know more about our work supporting companies in the fintech and financial services sector, please contact us by clicking here. Below you can view a full transcription of the webinar along with the video. Recent Developments in Banking & Fintech Open…
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Default Retail Price for Electricity to apply from 1 July 2019  

AU Energy Compliance
The Commonwealth Government has just directed that the Australian Energy Regulator (AER) begin work on developing a mechanism for introducing a default price for electricity. What we know The Commonwealth Government has asked that a default market offer and associated default market price be introduced for National Energy Customer Framework (NECF) jurisdictions, which means: the default price will replace the standing offer price in NECF areas that currently do not have price regulation; the price will be set by the AER on the basis of the costs incurred by the retailer as well as allowance for a reasonable margin. The default price would come into effect on 1 July 2019 with publicly released by 30 April 2019. In addition, the Commonwealth Government has requested that the AER begin work implementing:…
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August Retail Pricing Update

August Retail Pricing Update

AU Energy Compliance
Retail prices have dominated the headlines over the past week, with ongoing discussion of some retailers posting record profits and resultant calls for a Royal Commission into Energy. At the same time there have been some significant changes relating to energy retail pricing which have either been announced or recently came into force. In light of this we provide a quick update on the National Energy Guarantee (NEG), electricity default prices and changes to the display of pricing information.   By Dr Drew Donnelly, Compliance Quarter. 1. Emissions obligation in the NEG – gone for now Perhaps the most significant of the Commonwealth Government’s policies intended to reduce retail electricity prices was the National Energy Guarantee (NEG). On 20 August then Prime Minister, Malcolm Turnbull, announced that the emissions obligation…
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Webinar – The Exemption Party is Over – bringing embedded networks into the national framework

Webinar – The Exemption Party is Over – bringing embedded networks into the national framework

AU Energy Compliance
In this Compliance Quarter free webinar, founder Connor James, is joined by Alex Silcock to look at the recent news developments that will mean the end of exemptions and what this means for embedded networks and the national framework. We produce content for our clients in the form of webinars, online compliance training, news articles, and analysis. This is delivered through our custom compliance software, the Compliance HUB. In addition, the HUB is focused on helping our clients manage successful compliance programs and is supported by our regulatory expertise. If you would like to know more, please contact us by clicking here to access the contact form. We hope you enjoy the webinar. [embed]https://youtu.be/ZRjf9UyhLZ4[/embed]
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AEMC Rule regarding customers experiencing hardship

AEMC Rule regarding customers experiencing hardship

AU Energy Compliance
Customer hardship remains an area of significant concern for regulators of the Australian energy market. As energy is an essential service, energy hardship provisions aim to ensure the continuity of supply and management of energy debt for those individuals who are experiencing hardship. On 6 September 2018, the Australian Energy Market Commission (AEMC) made a draft rule to help customers who are having trouble paying their bills due to hardship. A new rule 75A will be inserted into the National Energy Retail Rules which will require that the Australian Energy Regulator develop, maintain and publish a customer hardship policy guideline. The customer hardship policy guideline will include processes, timelines and requirements to be complied with by retailers in connection with the approval or variation of their customer hardship policies, and…
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Unfair Contract Terms

Unfair Contract Terms

Financial Services
In March 2018, the Australian Securities and Investment Commission (ASIC) published REP 565 (found here: https://asic.gov.au/regulatory-resources/find-a-document/reports/rep-565-unfair-contract-terms-and-small-business-loans/), which outlines changes to small business loan contracts made by the big four banks to comply with the unfair contract term law. This report also provides guidance to the broader small business lending industry. On Friday, ASIC announced that Prospa Advance Pty Ltd (Prospa) had changed the terms of its small business loan contract to address potential non-compliance with the unfair contract terms provisions of the ASIC Act. Changes agreed Prospa agreed to make the following changes: to the early repayment clause so that borrowers are able to repay the loan early without Prospa’s consent. Further, removing Prospa’s absolute discretion whether or not to provide a discount for prepayment. to the unilateral variation clause…
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