The Australian Competition and Consumer Commission today submitted its advice on water market rules and water charge (termination fee) rules to the Minister for Climate Change and Water.
The Minister had written to the ACCC requesting advice on the water charge (termination fee) rules and water market rules as required under ss. 93(1) and 98(1) of the Water Act 2007 by December 2008. This advice is in compliance with that request and includes recommended water market rules and water charge (termination fee) rules.
This advice has considered stakeholder submissions in response to issues papers, position papers and more recently, draft advice to the Minister through the ACCC's extensive consultation. The ACCC also conducted public forums in regional centres on the draft advice for water market rules and water charge (termination fee) rules. In total the ACCC received 195 written submissions, 130 on the water market rules and 65 on the water charge (termination fees) rules. These submissions are available on the ACCC website.
This advice also took into account the Basin water charging objectives and principles contained in schedule 2 of the Act and water market and trading objectives and principles contained in schedule 3 of the Act.
The Minister may adopt the ACCC's draft rules, with or without variation. If the Minister intends to proceed with the ACCC's advice and recommended rules, she must publish a notice on the department's website which includes a copy of the proposed rules and a copy of the advice provided by the ACCC at least four weeks before the proposed rules are made.
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