Below is a list of some of the key components of a Victorian retail licence application.
The public facing application document is actually one of the easiest documents to prepare. The application document simply needs to cover those areas that are set out in the ESC guideline on retail authorisations. We have an in-house designer who will work with you to ensure that your public facing documentation looks professional and portrays the brand that you are seeking to develop. As part of the application process, your application document will be published and individuals will be able to submit their views on your application through the public consultation period that runs for one month. Should you receive any submissions, we will work with you to formulate an appropriate response.
We work with you to develop a comprehensive and well structured business plan that will be reviewed by the ESC. As part of your business plan, we can help you develop a comprehensive financial model that includes the various fixed costs of setting up and running an electricity retailer. Our financial model includes balance sheet and profit and loss analysis. You can then use our financial model and amend it over time to reflect the performance of your business.
Compliance and Risk Management are two of the most important areas of a Victorian retail licence application. We have extensive experience and understanding of the regulator obligations of an out to sea retailer operating in the NEM. As a result, we can supply you with a vast array of resources including checklists and guidelines covering virtually every aspect of energy retail operations including, for example billing, customer complaints, customer hardship, disconnection and reconnection with, with and market retail contract requirements.
When it comes to obtaining a Victorian retail licence, we are the experts. We have a 100% success rate and we take the pressure off your shoulders by managing all aspects of the application process.
An application for an electricity or gas retail licence in Victoria must be relevant, accurate, and complete.
Applications for a gas or electricity retail licence in Victoria are assessed by the Essential Services Commission who is the independent regulator established by the Victorian government to regulate essential services including the electricity and gas industries. To grant a licence, the commission must be satisfied that:
When completing an assessment, the commission must have regards to its objectives as set out in the Essential Services Commission Act and the Electricity Industry Act.
The application document itself must demonstrate that an applicant has a detailed understanding of the legislative and regulatory instruments applicable to electricity or gas retail.
The applicant must prove, within the application, that it has the business skills, knowledge, personnel systems and capacity to operate an energy retailer. Additionally, the applicant must demonstrate that it has the capacity to manage risk and to operate effectively within the wholesale market with a functional risk management and compliance system that is consistent with the relevant Australian standards.
A Victorian Electricity Retail Licence application will typically consist of an application document along with a large number of annexures that form part of the application. Those annexures include policies and procedures that show that the applicant has the capacity to comply with the Victorian regulatory framework. Financial documents, including as to the current financial position of the applicant, and on the applicant’s business plan will also be attached to a Vic electricity licence application.
The energy market is an exciting and dynamic market with opportunities for innovative businesses seeking to make a positive difference for both consumers and the environment.
We’re able to handle all aspects of a Victorian licence application including discussions and correspondence with the regulator, engagement with consultants, drafting the application document itself, and seeing the application through to successful approval.
If you are ready for a proposal for us to obtain a VIC retail licence on your behalf we will send you a document setting out the services that we will provide. We charge a fixed fee that is partly based on success. We also offer a Compliance Manager service, i.e, we can act as your external compliance manager and manage complex regulatory obligations on your behalf.