Legislative Assembly for the ACT: 2015 Week 5 Hansard (5 May) . .
Additional details regarding these instruments are provided in the statement of reasons that accompanies each of the instruments that I have tabled this afternoon. I commend them to the Assembly.
Industry panel declaration and report
Papers and statement by minister
MR BARR (Molonglo—Chief Minister, Treasurer, Minister for Economic Development, Minister for Urban Renewal and Minister for Tourism and Events): For the information of members, I present the following papers:
Independent Competition and Regulatory Commission Act, pursuant to section 24—Industry Panel—
Review of the Independent Competition and Regulatory Commission's 2013 Price Direction for Regulated Water and Sewerage Services in the ACT—Final Report, dated April 2015; and
Substituted Price Direction—Regulated Water and Sewerage Services—1 July 2013 to 30 June 2018, dated April 2015.
I seek leave to make a statement in relation to the papers.
MR BARR: As the referring authority for the Independent Competition and Regulatory Commission Act 1997, I present to the Assembly the following two reports of the Industry Panel: the Industry Panel review of the ICRC's 2013 price direction for regulated water and sewerage services—final report, April 2015; and the Industry Panel substituted price direction—regulated water and sewerage services—1 July 2013 to 30 June 2018, dated April 2015.
The tabling of the final report and substituted price direction represents the final step in the Industry Panel review process which commenced in April 2014 following an application by Icon Water Ltd to review the price direction made by the Independent Competition and Regulatory Commission, the ICRC, for regulated water and sewerage services from 1 July 2013.
The Industry Panel's final report and substituted price direction for regulated water and sewerage prices in the ACT presents the results of an extensive investigation by the Industry Panel which involved ongoing consultation with the community and key stakeholders, with public hearings held throughout the process and written submissions received from interested members of the community.
The Industry Panel's final report outlines the panel's final decisions on the pricing path for water and sewerage prices in the ACT for the next three years, with the revised regulatory period to conclude on 30 June 2018. As indicated in the Industry Panel's final report for 2015-16, water prices will decrease by 3.4 per cent in real terms and sewerage prices will increase by 1.4 per cent in real terms. These will be followed by CPI increases in 2016-17 and 2017-18. However, the finalised prices to
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