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On 19 April 2017, the Australian Government directed the ACCC to conduct a wide-ranging inquiry into the supply of and demand for wholesale gas in Australia, as well as to publish regular information on the supply and pricing of gas for the next 3 years.
On 20 August 2018, the Treasurer directed the ACCC to hold a public inquiry into the prices, profits and margins in the supply of electricity in the National Electricity Market (NEM).
The ACCC is responsible for monitoring compliance with the Competition and Consumer Rules, the Consumer Data Standards and Part IVD of the Competition and Consumer Act.
A quarterly publication of the Utility Regulators Forum.
Pursuant to s 60J of the Competition and Consumer Act 2010, the ACCC is required to report to the Hon. Bruce Billson MP, Minister for Small Business on its operations relating to the carbon tax price reduction obligation. The ACCC is required to report to the Minister on its monitoring activities within 28 days at the end of each quarter.
These reports are pursuant to the Treasurer’s Direction under s 95ZE of the Competition and Consumer Act 2010 (CCA) to the ACCC to formally monitor prices, costs and profits in order to assess the general impact of the carbon tax scheme in Australia.