Review of Limited Merits Review Regime
This is the Business Council’s submission to the COAG Energy Council on the review of the limited merits review framework in the National Electricity Law and the National Gas Law.
The submission explains why access to merits review is the cornerstone of an accountable, transparent and efficient regulatory regime.
The Business Council believes that the removal or further restriction of the limited merits review framework in the energy sector, without corresponding limits on the discretion of the Australian Energy Regulator, would only serve to undermine investor confidence and could lead to unaccountable regulatory decisions, which would lead to inefficient outcomes for investors and consumers.
If the COAG Energy Council decides to introduce legislative amendments to the limited merits review framework, the Business Council believes that any amendments should be well-targeted, proportionate and subject to further industry consultation.