What the official record says
This Act is the Electricity Industry Reform Amendment Act . This Act comes into force on the 28th day after the date on which it receives the Royal assent. This Part amends the Electricity Industry Reform Act 1998. Section 2(1) is repealed and the following subsections are substituted: The purpose of this Act is to better ensure — costs and prices in the electricity industry are subject to sustained downward pressure; and the benefits of efficient electricity pricing flow through to all classes of consumers; and new investment in generation from renewable energy sources . The Act does this by— effectively separating electricity lines from generation and retail where those activities are co-located; and promoting effective competition in electricity generation and retail; and limiting barri