Rate regulator
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An authorised body empowered by statute or regulation to establish the rate or range of rates or prices that may be charged by a regulated entity, for example an electricity supplier.
The rate regulator may be a third-party body or a related party of the entity itself, including the entity's own governing board, if that body is required by statute or regulation to set rates both in the interests of customers and to ensure the overall financial viability of the entity.
