Risk of power retailers failing prompts regulatory intervention

Tue, 05 May 2020

The risk of “multiple defaults” among electricity retailers has prompted the sector regulator to require the largest network companies to provide financial support to some of their customers. The Electricity Authority plans an urgent rule change that will require the six largest network companies to offer eligible retailers a two-month holiday on distribution and transmission charges for up to nine months. Retailers wanting to use the scheme will have to show they were viable before the covid-19 lockdown, have been materially impacted by...

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