The ACCC proposes to grant authorisation to 1Circle Pty Ltd and members of the Business Renewables Buying Group (the Group) to form a joint renewable energy buying group in which the Group pools their electricity demand and conducts a joint procurement and negotiation process for the supply of electricity and an equivalent quantity of large-scale generation certificates from renewable energy sources.
The ACCC proposes to grant authorisation for a period of 11 years.
The ACCC also granted interim authorisation to enable the Group to initiate the joint electricity procurement process while the ACCC completes its assessment of the substantive application. Interim authorisation does not extend to the Group members entering into agreements with suppliers of electricity services.
The ACCC is now seeking submissions in response to the draft determination by Friday, 15 March 2024, before making its final decision. Further details about the application and how to make a submission are available on the ACCC’s public register.