We released our final decision on Powercor's distribution determination for the 2016-20 regulatory control period on 26 May 2016.
We also released a Fact Sheet to accompany and summarise our final decision. The purpose of this Fact Sheet is to make our decision accessible to a wide ranging consumer audience.
The AER must publish certain models with its final decision for Powercor.
24 August 2016, the AER released its final decision on Powercor's 2017-20 Tariff Structure Statement proposal. The approved tariff structures were in place for the 2017-20 period.
7 November 2016, the AER approved amendments to Powercor's approved 2017-20 tariff structure statement.
September 2017, the AMI Amending (AMI Tariffs) Order and Ministerial Order were gazetted. The Victorian distributors' tariff structure statements must comply with these Orders.
The AMI Tariffs Order was gazetted on 12 September 2017.
The Ministerial Order was gazetted on 14 September 2017 (page 44).
Powercor's revised tariff structure statement reflects these Orders.
A history of the consultation process is archived online by the National Library of Australia.
The AER commissioned a number of reports which it took into account when making its final decision.
On 15 December 2017 the AER wrote to Powercor setting out how it proposed to correct a mathematical error in the inflation calculation in its 26 May 2016 decision.
On 25 May the AER wrote to Powercor indicating that it had revoked and substituted the 2016-20 regulatory determinations to correct for the inflation estimation error. As set out in the attached letter, the new determinations will have the effect of reducing the businesses revenue in the 2019 and 2020 regulatory years by the amount of the correction (in NPV terms).