Victorian Consolidated Legislation

Essential Services Commission Act 2001 - SECT 8A

Matters which the Commission must have regard to

8A. Matters which the Commission must have regard to



(1) In seeking to achieve the objective specified in section 8, the Commission
must have regard to the following matters to the extent that they are relevant
in any particular case-

   (a)  efficiency in the industry and incentives for long term investment;

   (b)  the financial viability of the industry;

   (c)  the degree of, and scope for, competition within the industry,
        including countervailing market power and information asymmetries;

   (d)  the relevant health, safety, environmental and social legislation
        applying to the industry;

   (e)  the benefits and costs of regulation (including externalities and the
        gains from competition and efficiency) for-

   (i)  consumers and users of products or services (including low income and
        vulnerable consumers);

   (ii) regulated entities;

   (f)  consistency in regulation between States and on a national basis;

   (g)  any matters specified in the empowering instrument.

(2) Without derogating from section 8 or subsection (1), the Commission must
also when performing its functions and exercising its powers in relation to a
regulated industry do so in a manner that the Commission considers best
achieves any objectives specified in the empowering instrument.