The ‘New Reg’ trial: towards increased consumer participation in network regulation
On 23 March, the Australian Energy Regulator (AER), Energy Consumers Australia and Energy Networks Australia announced the ‘New Reg’ initiative. This is a new consumer-centric approach to electricity network regulation which will soon be tested via a trial with Victorian network business AusNet Services. We discuss this initiative below. [caption id="attachment_3996" align="aligncenter" width="640"] Photo by Mike Wilson on Unsplash[/caption] By Dr Drew Donnelly, Compliance Quarter. Consumer participation in network regulation - Background As electricity network business generally operate as monopolies, they are subject to a rigorous regulatory framework aimed at getting the best outcomes for Australian consumers and investors. An important part of this framework is the submission of regulatory proposals to AER. These must be submitted every five years and set out proposed capital and operating plans and the…