The Minister for Finance sets the annual licence fees payable by the regulated businesses in the electricity, gas, ports and water industries. In each case, the annual licence fees payable by the regulated businesses are determined by the Minister for Finance, as the Minister administering the Essential Services Commission Act 2001.
The Minister for Finance is required to determine the licence fees payable for electricity, gas, ports and water:
- in consultation with the relevant Minister administering the industry legislation
- having regard to the total amount of costs and expenses that are incurred by the Commission in the exercise of its powers for or in connection with the performance of its functions and the achievement of its objectives in relation to the particular regulated industry.
Information is provided by the Commission to assist the Minister in determining licence fees for the regulated industries that are levied over a financial period.
The Commission has prepared an Information paper (listed below), which explains the Commission’s approach and methodology to calculating licence fees.