On 14 March 2014, the AER decided to approve the surrender of Australian Power and Gas's (APG's) electricity and gas retailer authorisations. Australian Power and Gas was transitioned to a retailer authorisation under the National Energy Retail Regulations (a full list of transitioned retailers is available in Schedule 2 of the Regulations). APG was acquired by AGL in October 2013, and applied to the AER in February 2014 to surrender its national retailer authorisations.
The AER may decide to approve the surrender if the AER is satisfied that arrangements relating to the surrender will appropriately manage the transfer of any retail customers. Under section 105, the AER may also place conditions on the transfer of customers (in consultation with AEMO). The AER has placed several conditions on APG as the surrendering retailer.
The surrender will take effect on 30 June 2014.