The Independent Competition and Regulatory Commission (ICRC) has released its strategic priorities for the financial year, promising a focus on electricity prices.
In a statement, the Commission said its Strategic Plan 2020-2024 with Key Priorities for 2021-22 outlined what it planned to do, how it would conduct its work and its measures of success.
The ICRC said one of its top priorities for the 2021-22 financial year was to implement and monitor compliance with its new ACT Retail Electricity (Transparency and Comparability) Code Guideline to improve the transparency and comparability of retail electricity offers.
The Commission said it would also review and update the methods it used to forecast the demand for water and sewerage services; start a pricing investigation to determine regulated water and sewerage from July 2023; and ensure ACT licensed utilities operated effectively and complied with licence conditions and industry codes.
“The Commission’s aims are to promote effective competition in the interests of consumers and ensure non-discriminatory access to monopoly and near-monopoly infrastructure,” it said.
The ICRC said it would also continue to provide advice to Government on competition and consumer issues.
“Over its history, the Commission has provided advice to the Government on a wide range of industry matters,” it said.
“In addition, the Commission has provided advice and information to the ACT Government in relation to climate change policies and programs, reported on performance in achieving greenhouse gas reductions, and has had various roles in relation to the electricity feed-in arrangements.”
The ICRC said it would also work to maintain community confidence this year by publishing clear informative reports and engaging with stakeholders.
The ICRC’s one-page strategic priorities can be downloaded at this PS News link.
