Section 169: Power to regulate and review prices.

1 Where the Authority determines that -
a a particular licenced activity is a monopoly service,
b competition has not yet developed in the market to such an extent as to protect the interests of customers, or
c a particular licensee is a dominant provider,

the Authority shall regulate the prices charged by licensees in respect of the activities, in a manner consistent with its functions under this Act and with the pricing principles set out in section 170 of this Act.

2 The Authority shall undertake periodic pricing methodology reviews, provided that the pricing methodology review shall not affect arrangements entered into or approvals given for the development of a gas infrastructure or utilisation project prior to the effective date.

3 The Authority shall consult with licensees, industry participants and stakeholders before undertaking a pricing review or establishing a methodology for regulating prices and revenues earned by licensees providing monopoly or dominant services.