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Legislative Assembly for the ACT: 2018 Week 05 Hansard (Thursday, 10 May 2018) . . Page.. 1809 ..

Independent Competition and Regulatory Commission Act, pursuant to section 24—Independent Competition and Regulatory Commission—

Report 1 of 2018—Regulated water and sewerage services prices 2018-23—Final report, dated May 2018.

Report 2 of 2018—Regulated water and sewerage services—Price Direction—1 July 2018 to 30 June 2023, dated 1 May 2018.

I ask leave to make a statement in relation to the papers.

Leave granted.

MR BARR: As the referring authority for the Independent Competition and Regulatory Commission, I present to the Assembly the following two reports of the commission: report 1 of 2018, Regulated water and sewerage services prices 2018-23; and report No 2, the price direction for 1 July 2018 to 30 June 2023.

The commission has now completed its investigation process for setting the prices of regulated water and sewerage services provided by Icon Water for the five-year regulatory period. Through the investigation, the commission undertook consultation with the community and key stakeholders, conducted public hearings and a consultation forum, and welcomed submissions from interested members of the community. The tabling of the final report and price direction represents the final step of a comprehensive investigation process by the commission, which commenced in December 2016.

As the ACT’s economic regulator, the commission is responsible for balancing the many competing objectives to ensure regulated water and sewerage prices are reflective of efficient costs, reliability and quality standards, whilst also maintaining the viability of Icon Water. The commission’s decision incorporates some of the modifications proposed by Icon Water, whilst other issues will be subject to further investigation over the next regulatory period.

The commission’s final report outlines in detail the final decisions of the commission in relation to the regulatory model and approach used by the commission to determine the water and sewerage price path for the next five years. This decision will result in a decrease in the combined water and sewerage bill for a typical household, consuming 200 kilolitres of water a year, of around 3.5 per cent, or $42, for the 2018-19 year when compared with 2017-18, with prices in future years expected to increase broadly in line with inflation.

I would like to take the opportunity to thank the Senior Commissioner, Mr Joe Dimasi, and his staff for their work in undertaking this important regulatory function in the territory. I commend the reports to the Assembly.

Land Development Agency 2016-2017 annual report—corrigendum

Paper and statement by minister

MS BERRY (Ginninderra—Deputy Chief Minister, Minister for Education and Early Childhood Development, Minister for Housing and Suburban Development, Minister

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