The Essential Services Commission is the economic regulator of the Port of Melbourne Corporation. The Commission does not set or approve prices charged by the port — rather we monitor prices charged for a small number of services provided by the port. Which services are monitored are determined by government and these services are known as prescribed services.
The Price Monitoring Determination 2015 establishes the price monitoring regime. The Port of Melbourne Corporation is the only port operator currently subject to the regime.
The Price Monitoring Determination will continue until the Port of Melbourne is leased and a new price monitoring regime takes effect. The Department of Treasury and Finance has developed a new price monitoring regime (set out in a Pricing Order) which is expected to take effect on 1 July 2017. The Essential Services Commission will administer this Pricing Order.