Victorian Numbered Acts

ESSENTIAL SERVICES COMMISSION AMENDMENT ACT 2008 (NO. 15 OF 2008) - SECT 9

For sections 33(3) and 33(4) of the Essential Services Commission Act 2001 substitute —

    "(3)     In making a determination under this section, the Commission must have regard to—

        (a)     the particular circumstances of the regulated industry and the prescribed goods and services for which the determination is being made;

        (b)     the efficient costs of producing or supplying regulated goods or services and of complying with relevant legislation and relevant health, safety, environmental and social legislation applying to the regulated industry;

        (c)     the return on assets in the regulated industry;

        (d)     any relevant interstate and international benchmarks for prices, costs and return on assets in comparable industries;

        (e)     any other factors that the Commission considers relevant.

    (4)     In making a determination under this section, the Commission must ensure that—

        (a)     the expected costs of the proposed regulation do not exceed the expected benefits; and

        (b)     the determination takes into account and clearly articulates any trade-offs between costs and service standards.".