The way that Australia’s interstate rail network is regulated is under review and the ACCC has today released an issues paper calling for input from businesses that rely on the network.
Privatising assets without allowing for competition or regulation creates private monopolies that raise prices, reduce efficiency and harm the economy, ACCC Chair Rod Sims said in a speech on Thursday.
Speaking at the 2021 ACCC/AER Regulatory Conference, Mr Sims discussed the need to either avoid monopolies, or if not then regulate them, to prevent costs to the economy arising from unfettered use of their market power.
Mr Sims put forward two possible solutions to avoid privatisations creating future unfettered private monopolies.