On Monday 22 September, the Competition Policy Review Panel released its Draft Report on the effectiveness of Australia’s current competition policy and laws, and its recommendations for the promotion of competition across the country (see our detailed alert here) and has been holding public forums around the country to discuss the changes it proposes.
A number of specific recommendations have been made in the Draft Report in respect of the electricity, gas and water markets. While the Panel acknowledges the significant progress that has been made in reforming these markets so far, it is not surprising that it recommends that efforts be stepped up to further nationalise these markets to increase competition and ultimately put downward pressure on prices for the benefit of customers. In this aspect in particular, the Panel sees its role as “standing on the shoulders of Hilmer” in finalising industry reforms, highlighting that the water sector was significantly behind the electricity and gas sectors in introducing reform.
We’ve set out below a table of the key recommendations made by the Panel, and the policy objectives underpinning those recommendations.
Click here to view the table.
Submissions on the Draft Report are due by 17 November 2014.