Ultium Energy Pty Ltd - application for electricity retailer authorisation

Sector: 
Segment: 
Status: 
Category: 
Authorised retailer
Notice status: 
Refused
Commencement date: 
8 November 2016
Effective date: 
24 January 2017
Applicant/s: 
  • Ultium Energy Pty Ltd / ACN 611 028 230
Location: 
Level 5, 45 Brisbane Road
Mooloolaba, QLD 4557
Australia

Overview

On 8 November 2016, the Australian Energy Regulator (AER) accepted an application from Ultium Energy Pty Ltd for an electricity retailer authorisation under the National Energy Retail Law (Retail Law).

The AER considered Ultium's application and decided, on 24 January 2017, to refuse the application in accordance with section 92(1) of the Retail Law.

In arriving at this decision, the AER has given consideration to the requirements of the Retail Law and the AER Retailer Authorisation Guideline (Guideline) and the information provided in the application, the submissions received and the supplementary information provided by Ultium.

While the AER had regard to the submissions with respect to their relevance to the entry criteria, they did not determine the final decision of the AER to refuse Ultium's application.

The AER decided that Ultium did not satisfy the entry criteria for a retailer authorisation in that it:

  • did not provide all the information required by the Guideline
  • partially satisfied the organisational and technical capacity criterion
  • did not satisfy the financial and suitability criteria

Background

On 8 November 2016, the Australian Energy Regulator (AER) accepted an application from Ultium Energy Pty Ltd for an electricity retailer authorisation under the Retail Law.

Submissions on Ultium Energy Pty Ltd's application closed on Friday 9 December 2016. The application received a number of submissions which have been published on the AER website. Locality Planning Energy Pty Ltd made a detailed submission regarding the applicant's ability to meet the relevant entry criteria for a retailer authorisation, to which Ultium Energy responded. All submissions and Ultium's response have been added to 'Supporting information' beneath the list of published submissions.