On 23 August 2023, Australia Post provided the ACCC with a draft price notification. The notification proposed to increase the price of reserved ordinary letters delivered at the regular timetable by 25%.
This includes an increase of the rate for ordinary small letters delivered at the regular timetable from $1.20 to $1.50. It also includes price increases at the same rate (25%) for the delivery of ordinary large letters up to 250 grams.
Under the Competition and Consumer Act 2010, the ACCC is required to assess Australia Post’s price notification.
On 5 September 2023, the ACCC published a survey seeking stakeholder views on the proposed price increase. The survey closed on 29 September 2023.
In November 2023, Australia Post provided the ACCC with a revised draft price notification which included updated financial information and forecasts. The revised notification did not alter the size of the proposed stamp price increase, as outlined above.
In December 2023, Australia Post provided the ACCC with a further revised draft price notification, which corrected some errors in the post tax revenue model outputs.
On 25 January 2024, the ACCC published a preliminary view proposing to not object to Australia Post’s planned price increase, and sought submissions on this view from interested parties until 15 February 2024.
On 27 February 2024, Australia Post provided the ACCC with its formal price notification. The proposed price increase outlined in the formal notification was consistent with Australia Post’s draft price notification.
On 18 March 2024, the ACCC released a decision to not object to the proposed price increase for reserved ordinary letter services, as set out in Australia Post’s price notification.