Part three: Report on performance
Program 1—Australian Competition and Consumer Commission
The objective of the ACCC program is to administer the Trade Practices Act and associated legislation to bring greater competitiveness, fair trading, consumer protection and product safety to the Australian economy, working on the fundamental principle that this benefits consumers, business and the wider community.
The ACCC promotes compliance with federal competition, fair trading, consumer protection and product safety laws.
The ACCC and the AER regulate markets where competition is limited—for example, communications (ACCC), transport (ACCC) and energy markets (AER and ACCC).
Strategies
To achieve its outcome, the ACCC:
- promotes vigorous, lawful competition and informed markets
- encourages fair trading, protection of consumers and product safety
- regulates national infrastructure services (such as communications, bulk water, energy, rail, airports, post and wheat exports) and other markets where there is limited competition.
Results and target groups
The intended results and target groups of the ACCC program are:
- detect, pursue and stop anti-competitive conduct, including cartels and misuse of market power
- prompt delivery of authorisation and notification decisions, particularly in the field of small business collective bargaining arrangements
- assess mergers promptly and efficiently, taking effective action to prevent substantial competition concerns arising from mergers across all industries
- identify and focus effectively on national and cross-border (including international) consumer protection issues
- pursue and achieve appropriate remedies for false and deceptive conduct, particularly if widespread detriment results
- ensure that trading conditions between big and small firms are fair
- promote product safety through identification and regulation of emerging hazards, active engagement in recalls, and the enforcement of standards and bans
- support and protect competition in markets that rely on networks with natural monopoly characteristics
- provide consistent and independent regulation of the energy sector, encouraging competition within and between the gas and electricity markets to benefit industry and consumers
- regulate and advise on industries where market structures are changing, including where the market structure impedes effective competition (for example, water, transport and communications)
- monitor prices to assess and advise on the effect of market conditions (including deregulation) on the price levels of specified goods and services, including groceries, petrol, stevedores, and a range of airport prices, including car parking.