On 1 July 2005 the AER assumed the Australian Competition and Consumer Commission's (ACCC) responsibilities for the regulation of tranmission revenue in the National Electricity Market. Under clause 6.20.2 of the National Electricity Rules, ring-fencing guidelines developed by the AER may include provisions enabling the AER to waive any of a transmission network service provider's obligations under the ring-fencing guidelines.
To be eligible for a waiver an applicant must satisfy the test outlined in clause 11 of the guidelines.