ACCC invites comments on draft advice to the Minister on amendments to Water Market Rules and Water Charge (Termination Fees) Rules

The Australian Competition and Consumer Commission today issued its draft advice to the Minister for Climate Change and Water on proposed amendments to the Water Market Rules and Water Charge (Termination Fees) Rules, including recommended amendments to the Rules.

The Minister wrote to the ACCC requesting advice on amendments to the Rules, including draft amendments, by end of March 2010 in accordance with sections 93(1) and 98(1) of the Water Act 2007. The amendments proposed by the Minister relate to technical issues identified in the process of implementing the Rules.

On 9 October 2009, the ACCC issued a notice inviting submissions on the issues raised in the Minister's request.

In drafting the advice, the ACCC has had regard to stakeholder submissions and the policy intent of the ACCC's advice to the Minister on the Rules, provided in December 2008. The ACCC has also considered the Basin water market and trading, and water charging objectives and principles contained in Schedules 2 and 3 of the Act.

Interested parties are now invited to make submissions on the draft advice and recommended amendments to the Rules. Submissions should be provided to the ACCC by Monday 8 February 2010. Details on how to make a submission can be found in the draft advice, which is available at www.accc.gov.au/water.