On 8 November, we released a Notice on whether to amend or replace the current Framework and Approach (F&A) for TasNetworks' distribution and transmission businesses and we received several submissions on whether it is necessary or desirable to amend or replace the F&A.
On 10 December 2021, we issued a decision to replace TasNetworks' F&A. In early 2022, we will release our preliminary Framework and Approach for consultation.
TasNetworks is an electricity distribution and transmission network service provider. Its next five year regulatory control period for both networks commence on 1 July 2024 to 30 June 2029 (2024-29).
Under the NER, TasNetworks is required to submit its regulatory proposals to us by 31 January 2023. However, prior to that date, the NER require us to review the current F&A paper that applies to TasNetworks and decide whether to amend or replace it.
The F&A is the first step in the reset process and sets out how we propose to apply a range of incentive schemes and other guidelines as well as our approach to calculating depreciation. The F&A also facilitates early consultation with consumers and other stakeholders and assists electricity distribution and transmission businesses prepare expenditure proposals.