Territory Stories

Annual Report 2014/2015 Utilities Commission

Details:

Title

Annual Report 2014/2015 Utilities Commission

Other title

Tabled paper 1571

Collection

Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT

Date

2015-11-19

Description

Deemed

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

Place of publication

Darwin

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C01590

Parent handle

https://hdl.handle.net/10070/273186

Citation address

https://hdl.handle.net/10070/799701

Page content

34 Chapter 6: Compliance Monitoring The Commission is required under the Utilities Commission Act to monitor and enforce compliance by licensed electricity entities with regulatory instruments legislation, licences, codes and guidelines. Statement of Approach on Compliance Good compliance practice means that an organisation is able to demonstrate its commitment to compliance with relevant laws, including legislative requirements, industry codes and organisational standards as well as standards of good corporate governance, ethics and community expectations. It enables an organisation to identify deficiencies and take action before problems eventuate. The Commissions Statement of Approach on Compliance outlines the Commissions compliance program for monitoring compliance with electricity laws, rules, and regulations. It contains the Commissions risk assessment methodology, monitoring and reporting mechanisms, and enforcement options in response to regulatory breaches. The objectives set out in the Statement of Approach are to: communicate to stakeholders the Commissions objectives regarding compliance and how these fit within the Commissions strategic vision (public value); bring together the different initiatives implemented thus far under one umbrella; communicate to the regulated industry the value of adopting and endorsing a compliance process (risk management perspective); inform the industry about the expected outcomes resulting from the implementation of a compliance process; provide guidance to the regulated entities about the development of a robust and comprehensive compliance process; inform the regulated industry about compliance monitoring and audit scope; and clarify the enforcement and disciplinary process in cases of non-compliance. In 2014-15, to supplement the Statement of Approach to Compliance, the Commission prepared Compliance Framework and Reporting Guidelines to clarify its expectations in relation to compliance by licensees and to include, among other things, a requirement for annual compliance reports, additional information on the reporting of compliance breaches and an annual declaration from the Board of Directors. Consultation on the draft Guidelines commenced in July 2015 and the Guidelines will be finalised in October 2015.