The new framework for independent economic regulation of the Victorian water industry came into full effect on 1 July 2005 with the beginning of the first regulatory pricing period. For the next three years, the maximum prices that 17 of Victoria's metropolitan and regional urban business can charge for water, sewerage and other related services have been determined by the Essential Services Commission. This follows an intensive 18-month exercise to establish the framework by which the prices would be determined and the detailed assessment of pricing proposals put forward by businesses, culminating in the Commission's first water price determination in June 2005. This article discusses the Commission's expanded role in regulating the Victorian water industry and the State's first independent water price review.
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