Carbon

Carbon tax price reduction obligation: the ACCC's report to Parliament

Pursuant to sections 60CA(5) and 60FD(11) of the Competition and Consumer Act 2010, the ACCC is required to report to Parliament on penalties payable by entities that contravened the prohibition against price exploitation and failed to pass through all of their cost savings attributable to the carbon tax repeal, and compliance by all entities with the requirement to provide carbon tax removal substantiation statements.

ACCC issues final carbon tax monitoring report

The Australian Competition and Consumer Commission has finalised its formal carbon tax repeal monitoring role under Part V of the Competition and Consumer Act 2010 (CCA) on 30 June 2015, with its final carbon report provided to the Minister of Small Business, the Hon. Bruce Billson MP.

The report provides an update on the remaining industries under assessment in the June 2015 quarter and summarises the ACCC’s key findings from its monitoring activities since 1 March 2014.

Carbon tax price reduction obligation: the ACCC's operations March 2015 quarter

Under section 60J of the Competition and Consumer Act 2010 (CCA), 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. This report covers the work of the ACCC during the March 2015 quarter.

Priorities 2015

In his first speech of the year, Chairman Rod Sims launches the 2015 edition of the ACCC’s Compliance and Enforcement Policy at CEDA in Sydney. Mr Sims announces cartel conduct in government procurement, truth in advertising, competition and consumer issues in the health sector and industry codes as new priorities. He also outlines the ACCC’s role in ensuring privatisation delivers for consumers, improving the functioning of the financial system given the competition focus of the Murray report, ensuring a smooth transition for consumers to NBN services and reviewing water rules to improve outcomes in the Murray-Darling Basin.

Carbon tax price reduction obligation: quarterly reports on the ACCC's operations

Pursuant to s 60J of the Competition and Consumer Act 2010 (CCA), 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.

Carbon tax price reduction obligation: the ACCC's operations December 2014 quarter

Pursuant to s 60J of the Competition and Consumer Act 2010 (CCA), 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. This report covers the work of the ACCC during the December 2014 quarter.

ACCC engages with electricity on-sellers in the next stage of the carbon tax repeal role

The Australian Competition and Consumer Commission is now engaging with electricity on-sellers to ensure that they pass on all carbon tax repeal cost savings to consumers.

While the ACCC is continuing to assess data and other information from electricity retailers to make sure that all of their cost savings from the repeal are passed on, the ACCC is now extending its focus to electricity on-sellers.

ACCC issues third carbon monitoring report

The Australian Competition and Consumer Commission has provided the third carbon monitoring report to the Treasurer, the Hon. Joe Hockey MP. The report details the ACCC’s monitoring activities in the September 2014 quarter to assess the general impact of the carbon tax scheme, and includes the effect of the carbon tax repeal.

“The ACCC has observed businesses acting quickly to remove carbon tax cost components from prices, with widespread adherence to the reporting and information requirements of the new carbon tax price reduction obligation laws.

Carbon monitoring report: September quarter 2014

This is the third report pursuant to the Treasurer’s Direction under s 95ZE of the Competition and Consumer Act 2010 to the ACCC to formally monitor prices, costs and profits in order to assess the general impact of the carbon tax scheme in Australia.

ACCC to focus on sale of Queensland electricity assets

Electricity generation assets will be the Australian Competition and Consumer Commission’s focus when the privatisation of Queensland electricity assets is triggered.

In a speech to the Energy Users’ Association of Australia, ACCC Chairman Rod Sims said the Queensland generation sector is one of the most highly concentrated in Australia.

“The ACCC hopes that the Queensland government will use this opportunity to establish a competitive structure when privatising its generation assets.”