Port of Melbourne pricing consultation
The Victorian Government has accepted the Port of Melbourne’s enforceable commitments made on pricing and consultation, to ensure the port operates to the benefit of all Victorians.
The port’s package of commitments responds to the Essential Services Commission’s review of the port’s compliance with the official pricing order, under which tariffs can only be increased once a year, and by no more than the consumer price index.
The Victorian Government legislated to provide this important protection for port users and end consumers, and the Essential Services Commission’s report found that port users had not been financially impacted by identified areas of non-compliance.
The Port of Melbourne’s commitments can be expected to place a downward pressure on future tariffs and provide clearer processes for the port to engage with businesses, ensuring that the port continues to operate to the benefit of all Victorians.
Legislation relating to the lease of the Port of Melbourne gives the Essential Services Commission important regulatory responsibilities, including the undertaking of five-yearly reviews of the Port of Melbourne’s pricing order.