DUET Group notes the attached release by United Energy regarding
media reports of proposed one-off changes to legislation to be
introduced by the Victorian Government. The changes relate to the
cut-over from state based regulation to the national framework
under the Australian Energy Regulator (AER).
Based on the Government’s estimates, the additional revenue
awarded as a result of United Energy’s regulatory appeal earlier
this year in relation to the network performance incentive scheme
(‘S-factor’), will be around $8.6 million per annum lower than
originally determined over the 2013 – 2015 period.
The AER is currently considering United Energy’s tariff proposal
that will determine the allocation of the additional appeal revenue
to calendar years 2013, 14 and 15. The AER is expected to publish
its decision by November 2012.