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 a directions hearing was held and orders made.
The next directions hearing in the matter is scheduled for 12 June 2020.