On 3 April 2019, the Economic Regulation Authority (ERA) published a notice advising that it had determined that the Electricity Generation and Retail Corporation, trading as Synergy, had offered prices in its balancing submissions that exceeded its reasonable expectation of the short run marginal cost of generating the relevant electricity and that behaviour related to market power. The ERA (the applicant) has made an application (No 1 of 2019) for orders pursuant to regulation 32(1) of the Electricity Industry (Wholesale Electricity Market) Regulations 2004.
The applicant considers Synergy has contravened clause 7A.2.17 of the Wholesale Electricity Market Rules and has made an application for a number of orders.
On 29 October 2019, the Attorney General appointed Mr Scott Ellis as the Presiding Member of the Electricity Review Board to hear the application for review in relation to Application 1/2019.
On 15 November 2019, Mr Ellis appointed Mr Warren Harding and Ms Sally McMahon as the Expert Members of the Board.
On 16 December 2019 and 12 June 2020 directions hearing were held and orders made.
A third directions hearing was held on 21 September 2020 with a further directions hearing scheduled for 7 December 2020.
The meeting scheduled for 7 December 2020 was adjourned and orders were made without the need for appearances.
The directions hearing scheduled for 4 February 2021 was postponed to 17 February 2021.
On Monday 10 May 2021 parties appeared before the Board which sat from 10 May to 17 May and again on 8 and 9 June 2021 to hear closing submissions. The Board reserved its decision and adjourned the application to a date to be fixed.
On 25 November 2022 the Board published its decision and declaration in application No 1 of 2019.
On 27 June 2023, the Board made Orders in relation to Application 1 of 2019 between the Economic Regulation Authority and Synergy, so concluding the proceedings.
