INDEPENDENT PRICING AND REGULATORY TRIBUNAL ACT 1992 - SECT 14 Method of fixing maximum prices

INDEPENDENT PRICING AND REGULATORY TRIBUNAL ACT 1992 - SECT 14

14 Method of fixing maximum prices

(1) A determination of the Tribunal of the maximum price for a government monopoly service may fix that price in any manner the Tribunal considers appropriate, including the following--

(a) by fixing an average price for a number of categories of the service,

(b) by fixing a percentage increase or decrease in existing prices,

(c) by fixing an average percentage increase or decrease in existing prices for a number of categories of the service,

(d) by fixing a specified price for each category of the service (if any other manner is not considered appropriate).

(2) The Tribunal may fix such a price by reference to--

(a) a general price index (such as the Consumer Price Index), or

(b) the government agency's economic cost of production, or

(c) a rate of return on the assets of the government agency.