Document ID: chunk:federal_register_of_legislation:F2023L00994:reg:16:p1
Version: federal_register_of_legislation:F2023L00994
Segment Type: reg
Provision Reference: reg 16 (pt 1/2)
Character Range: 29154–31943

16  Gas initial offer must comply with certain requirements
 (1) A person (the supplier) contravenes this subsection if:
 (a) the supplier is a covered supplier; and
 (b) the supplier issues a gas initial offer to another person (the potential buyer); and
 (c) the gas initial offer does not specify the matters mentioned in subsection (2).
Civil penalty:
 (a) for a body corporate—6,000 penalty units; and
 (b) for a person other than a body corporate—1,200 penalty units.
 (2) For the purposes of paragraph (1)(c), the matters are as follows:
 (a) the quantity of regulated gas intended to be supplied in accordance with the gas initial offer;
 (b) if the gas initial offer contemplates that there will be annual supply requirements in an agreement under which regulated gas will be supplied in accordance with the gas initial offer—the annual quantity of regulated gas intended to be supplied in accordance with the gas initial offer;
 (c) the intended degree of flexibility in determining that quantity (including conditions relating to load factor (such as conditions that determine variations in load factor over the course of a year));
 (d) the period over which the regulated gas is intended to be supplied in accordance with the gas initial offer (including the dates the supply will commence and will cease, or a method for determining those dates);
 (e) the delivery points of the regulated gas intended to be supplied in accordance with the gas initial offer;
 (f) the price or price structure intended to apply to the supply of the regulated gas in accordance with the gas initial offer (including any intended take or pay conditions, and the effect of any such conditions and of any intended price escalation mechanisms);
 (g) the last day of the gas initial offer open period (see subsection (3));
 (h) if the gas initial offer contemplates that there will be conditions precedent, relating to the supply of regulated gas, to an agreement under which regulated gas will be supplied in accordance with the gas initial offer—those conditions precedent;
 (i) whether the gas initial offer includes an offer to provide transportation services (including services in respect of transportation from delivery points mentioned in paragraph (e)) or storage services;
 (j) if the gas initial offer includes an offer to provide services mentioned in paragraph (i)—the price or price structure intended to apply to the provision of those services in accordance with the gas initial offer (including the effect of any intended price escalation mechanisms).
Note: The gas initial offer must specify the matters set out in subsection (2), and may also specify other matters.
 (3) The last day of the gas initial offer open period specified in accordance with paragraph (2)(g) must be:
 (a)