Final Report and Final DeterminationOn 5 May 2016, the Regulator made its
Final Determination and published its
Final Report. Accompanying this release, the Regulator also published a
media release.
A
Statement of Reasons was also published on 5 May 2016, explaining the changes made to the Draft Report and Draft Determination arising from comments made in submissions on those documents.
The Regulator published details, on 22 June 2016, of the FiT Rate it had determined would apply from 1 July 2016. At the same time the Regulator published details of Aurora Energy's approved standing offer prices for 2016-17. Further information can be found
here.
Formula for calculating the regulated FiT rateThe regulated FiT rate for each of the periods 1 July 2016- 30 June 2017 (Period 1), 1 July 2017 - 30 June 2018 (Period 2) and 1 July 2018 - 30 June 2019 (Period 3) is calculated in accordance with the following formula which is set out in the 2016 Regulated FiT Rate Determination:
FiTy = (WEPy x MLFy x DLFy) + AEMOyWhere:
FiTy is the regulated feed in tariff rate in c/kWh to be paid to standard feed-in tariff customers.
y is the relevant period (ie Period 1, Period 2 and Period 3).
WEPy is the wholesale electricity price calculated by the Economic Regulator in accordance with the 2016 Standing Offer Determination (Aurora Energy), during the annual standing offer price approval process, expressed in c/kWh.
MLFy means the load weighted average marginal loss factor at the regional reference node for Tasmania for the relevant period as approved by the Economic Regulator in accordance with the 2016 Standing Offer Determination (Aurora Energy) during the annual standing offer price approval process.
DLFy means the load weighted average distribution loss factor for the relevant period as approved by the Economic Regulator in accordance with the 2016 Standing Offer Determination (Aurora Energy) during the annual standing offer price approval process.
AEMOy means the forecast charges, as billed by AEMO for market participation and ancillary services fees estimated by the Economic Regulator in accordance with the 2016 Standing Offer Determination (Aurora Energy), during the annual standing offer price approval process, expressed in c/kWh.
Draft Report and Draft DeterminationThe Regulator released its
Draft Report,
Draft Determination and
media release on 5 February 2016 and called for public submissions, closing 15 March 2016. The Tasmanian Renewable Energy Alliance also lodged a
preliminary submission in relation to the pricing investigation in December 2015.
The Regulator received the following submissions:
Notice of intention to conduct a pricing investigation
On 2 July 2015, the Regulator announced its
intention to conduct a Regulated Feed-in Tariff Rate pricing investigation.
On 29 April 2016, the Regulator advised stakeholders that its Final Investigation Report will be released, and its Final Determination will be made, on or before 6 May 2016. The completion date for the investigation was extended so as the Regulator could adequately address all of the issues raised in response to the Draft Report and Draft Determination. The Regulator subsequently issued an amended notice.
The timeframes for the investigation were as follows:
|
Description of task |
Date |
| Regulator commences investigation | 1 July 2015 |
| Regulator releases draft report and draft price determination for public consultation | 5 February 2016 |
| Regulator considers submissions on draft report and draft price determination | From 15 March 2016 |
| Regulator releases Final Report and FiT Rate Determination | 5 May 2016 |