On 1 July 2005 the AER assumed the Australian Competition and Consumer Commission's (ACCC) responsibilities for the regulation of transmission revenues in the National Electricity Market. The National Electricity Code (the predecessor to the National Electricity Rules) required the ACCC to develop guidelines setting out how it will exercise its regulatory powers. The draft Statement of Principles for the Regulation of Transmission Revenues was released in May 1999, in accordance with the requirements of the National Electricity Code.

As a result of the issues raised in submissions on the draft statement of principles to the regulation of transmission revenues (draft regulatory principles) and other revenue cap processes, the ACCC engaged KPMG Consulting to review the proposed information requirements and annual compliance reporting principles in the draft regulatory principles and to develop a revised set of information guidelines. The ACCC used KPMG's review as a basis for its draft information requirements guidelines

The ACCC received a number of submissions regarding the draft guidelines and consulted widely with the transmission network service providers, taking into account the issues they raised, prior to releasing its final decision.