Members of an electricity company can force the board to create a performance improvement plan if the company fails to meet expectations; they can also appoint an observer to attend board meetings for up to 12 months.

Members can appoint a sole director to run the company; this removes all other directors from office if previous performance fixes fail.

Electricity company boards must create a corporate plan every financial year; this plan must align with the members' statement of expectations and be sent to members for approval by 31 March before the plan starts.

Boards must give members quarterly reports on the operations of the company and its subsidiaries; these reports must follow the Treasurer's Instructions.

Electricity companies and their subsidiaries cannot borrow money from anyone except the Tasmanian Public Finance Corporation without written approval from the Treasurer.

Members must give the Portfolio Minister a copy of any changes to the company constitution; the Portfolio Minister must then table these changes in Parliament within seven sitting days.

Any changes to an electricity company's constitution must be approved by both Houses of Parliament before they take effect.