Compliance Quarter’s Post

Victoria's State Electricity Commission (𝐒𝐄𝐂) has applied for a Victorian retail licence from the Essential Services Commission. You can read more about their plans here: https://lnkd.in/gD2NpXET

Are you a fan of word puzzles and games? Check out some of the games we've developed: https://lnkd.in/gkB9cGV2

𝐖𝐢𝐭𝐡 𝐚 𝐧𝐞𝐰 𝐰𝐞𝐞𝐤 𝐜𝐨𝐦𝐞𝐬 𝐚 𝐧𝐞𝐰 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐭𝐨 𝐓𝐢𝐭𝐚𝐧 👩🚀 The latest update includes a complete redesign, an issues register to identify regulatory obligations, and a dashboard showcasing upcoming regulatory reporting deadlines. Exciting enhancements to streamline your compliance process! #Titan #RegulatoryCompliance #Dashboard #Innovation

The important thing about a problem is not its solution, but the strength we gain in finding the solution. - Seneca

We talk a lot about our technology solutions, but what truly sets us apart is our people: Jodi Donovan, Pritish Salgaonkar, Lina Starling, Connor James. Our people are professional, experienced, and work hard for our clients. We've collectively got decades of experience in energy regulation, law, policy and project management. Our clients depend on us for quick and accurate guidance. We get to lean about our clients, their challenges, and their approaches. Our clients benefit immensely from this expertise, and if you are not a client, then get in touch.

𝐖𝐞'𝐫𝐞 𝐞𝐱𝐜𝐢𝐭𝐞𝐝 𝐭𝐨 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞 𝐭𝐡𝐞 𝐢𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐨𝐟 𝐫𝐮𝐥𝐞 𝐜𝐡𝐚𝐧𝐠𝐞 𝐬𝐭𝐚𝐭𝐮𝐬 𝐜𝐚𝐫𝐝𝐬 𝐢𝐧𝐭𝐨 𝐓𝐢𝐭𝐚𝐧. Our clients can now stay informed about upcoming rule changes and efficiently assess the potential impact on their business. With the ability to export submission dates to Outlook and Google Calendar, staying organized has never been easier. #Titan #RuleChange #BusinessImpact #Innovation

While the regulatory burden on Australian businesses is at an all-time high: Fortunately, tools like those developed by Compliance Quarter with Titan offer a solution. Technology, such as Titan, makes compliance engaging. Just wait until you see what we release this month... If you're looking to pass some time this weekend, check out a small selection of our in-house developed games: https://lnkd.in/gkB9cGV2

𝐘𝐞𝐭 𝐦𝐨𝐫𝐞 𝐮𝐩𝐝𝐚𝐭𝐞𝐬 𝐭𝐨 𝐓𝐢𝐭𝐚𝐧 𝐏𝐫𝐨. Our clients can now complete analysis of the Federal Court's decision in 𝘈𝘶𝘴𝘵𝘳𝘢𝘭𝘪𝘢𝘯 𝘌𝘯𝘦𝘳𝘨𝘺 𝘙𝘦𝘨𝘶𝘭𝘢𝘵𝘰𝘳 𝘷 𝘈𝘎𝘓 𝘙𝘦𝘵𝘢𝘪𝘭 𝘌𝘯𝘦𝘳𝘨𝘺 𝘓𝘪𝘮𝘪𝘵𝘦𝘥 [2024] FCA 969 and quickly determine if a breach is material under the 2024 Compliance procedures and guidelines. #regtech #energycompliance

Consistent with our company mission, we've achieved a significant milestone by surpassing 20,000 impacts through the B1G1 platform. These impacts are dedicated to assisting vulnerable communities, enhancing access to education, and reducing inequalities. Making a real and lasting difference one impact at a time!

📢 Today's Significant Federal Court Ruling on Energy Retail Overcharging Justice Downes of the Federal Court today delivered a significant judgment in Australian Energy Regulator v AGL Retail Energy Limited [2024] FCA 969, clarifying the meaning of "overcharging" under the National Energy Retail Rules. Read the decision here: https://lnkd.in/gWwChPrF Based on the decision, overcharging within the meaning of rule 31 of the National Energy Retail Rules occurs when: ➡️ A retailer has received, processed and retained a payment of an amount of money from a customer that exceeds the amount that the retailer is in fact entitled to charge the customer under any contract which it has with that customer. ➡️ The determination of whether a customer "has been overcharged" involves looking at what the retailer is entitled to charge compared to what the retailer has actually received from the customer. ➡️ It is not limited only to excess amounts that arise from the payment of an erroneously generated or miscalculated bill. Rather, it looks at the economic substance of the relationship between the retailer and the customer, and whether the retailer has received and is in possession of a sum of money that belongs to the customer and which the retailer does not have any contractual entitlement to retain. ➡️ Overcharging can occur even without the retailer issuing a bill or making an explicit demand for payment. It can happen through the retailer's conduct, such as continuing to receive and retain payments after a customer's account is closed. ➡️ Overcharging can occur through the customer's own error or mistake in making an excess payment, not just through errors by the retailer. The court rejected a narrower interpretation that would have limited overcharging only to situations where a retailer explicitly billed or demanded an excessive amount. Instead, it adopted a broader definition focused on whether the retailer had received and retained funds exceeding its contractual entitlement, regardless of how that situation arose. Retailers should review their systems and processes to ensure they can efficiently identify and address potential overcharges. #EnergyCompliance #RetailRules #ConsumerProtection Does your business have appropriate processes and system controls in place to comply with rule 31? Contact Compliance Quarter for expert advice.