Economic regulation is pervasive throughout the economy. Industries such as telecommunications, electricity, water, gas and airports, and many others, have their prices, investment plans and rates of return extensively regulated. Many others, such as in the resources sector, are compelled by regulators to let their competitors access their key assets.
The costs and benefits of regulation are not necessarily shared equally across the community. Attempts to change or introduce new regulatory arrangements require compelling arguments and evidence to manage community issues and sensitivities.
Proposed changes must be based on a clear understanding of the goals and objectives of regulatory regimes. This includes identifying economic and social costs and benefits of existing or proposed legislation, and identifying best practice alternatives.
ACG provides expert advice to economic regulators at national and state levels. It also advises governments and private organisations on the impact of proposed regulatory changes on income, output, employment and other effects on industry, communities and regions.
Specialising in development and review of best practice regulation, ACG provides detailed analysis and advice regarding:
ACG has advised on landmark regulatory decisions in the electricity and gas industries, and on regulatory issues in the water, rail, ports, airports, telecommunications and banking industries. It has also analysed the impact of regulation regimes governing trade practices, competitive neutrality, consumer protection, utilities, transport, environment, business licensing, public safety, gambling and alcohol, and intellectual property.
Our clients include the Australian Energy Market Commission, Victorian Department of Justice, Department of Treasury and Finance, and Department of Premier and Cabinet, Australian Government Department of Environment, Water, Heritage and the Arts, Victorian Competition and Efficiency Commission, and BHP Billiton.