15Powers in relation to price regulation

15 Powers in relation to price regulation

S. 15(1) amended by No. 62/2001 s. 83(d).

(1) For the purposes of Part 3 of the Essential Services Commission Act 2001—

(a) the industry of facilitating the export shipping of grain is a regulated industry;

S. 15(1)(b) substituted by No. 73/2003 s. 5(1), amended by No. 44/2007 s. 5.

(b) the services provided, in respect of the regulated industry, in the Port of Melbourne, the Port of Geelong and the Port of Portland of receiving, moving, inspecting, testing, stock control (including marshalling, storing and management), weighing, elevating and loading grain are prescribed services;

S. 15(1)(c) substituted by No. 73/2003 s. 5(1).

(c) the charges for the prescribed services under paragraph (b) are prescribed prices.

S. 15(2) amended by Nos 62/2001 s. 83(f), 11/2002 s. 3(Sch. 1 item 30.1).

(2) In making a determination in respect of prescribed prices, the Commission must, in addition to the matters referred to in section 33(3) of the Essential Services Commission Act 2001, have regard to—

(a) changes in the Consumer Price Index;

(b) changes in the provision of prescribed services;

(c) changes in the total cost of providing prescribed services;

(d) the costs of any new investment in the regulated industry to facilitate the provision of prescribed services.

S. 15(3) amended by No. 44/2014 s. 33(Sch. item 15).

(3) A change in the Consumer Price Index means the percentage calculated to two decimal places in accordance with the formula—

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where—

A is the consumer price index for the reference period prior to the reference period in which the determination is to be made;

B is the consumer price index number for the quarter ending 30 September 1994;

Consumer Price Index means the all groups consumer price index for Melbourne in original terms published by the Australian Bureau of Statistics.

S. 15(4) inserted by No. 73/2003 s. 5(2).

(4) The Commission may only make a determination in respect of prescribed prices under this section with the approval of the Minister administering this Part following an inquiry under subsection (7) or under section 41 of the Essential Services Commission Act 2001.

S. 15(5) inserted by No. 73/2003 s. 5(2).