Independent Appraisal (also known as Regulatory Reporting)
Under the Tasmanian Electricity Code the Regulator can request a licensee to engage an independent appraiser to review and report to the Regulator on the licencee's management plans, compliance plans and performance reporting.
The terms of reference for these appraisals are developed by the Regulator in consultation with the relevant licensee. The licensee nominates an appraiser for the Regulator's approval.
The Regulator will generally seek advice from the independent appraiser on:
- the adequacy of the plans having regard to the issues outlined in the Terms of Reference;
- the extent to which the plans comply with relevant standards; and
- the veracity of the performance information reported by the licensee.
Regulatory Reporting Guideline
The Regulator's Regulatory Reporting Guideline outlines:
- the Regulator's approach to deciding which plans are to be reviewed;
- how often the appraisals will be carried out;
- the considerations in developing the terms of reference;
- the procedure for appointing suitably qualified persons as independent appraisers;
- the scope of reporting; and
- how appraisals are to be conducted.