Each year, we receive a statement of expectations from the Minister for Finance. The statement sets out the minister’s expectations of our contribution to the Victorian Government’s regulatory reform program.
Ministerial statement of expectations
Each year, we receive a statement of expectations from the Minister for Finance. The statement sets out the minister’s expectations of our contribution to the Victorian Government’s regulatory reform program.
The letter identifies areas where we can improve our performance to reduce the cost of regulation on business and the community. It outlines key objectives and targets which we will report on in our annual reports. The key areas for improvements include:
| Key area | Improvement expected | Target by June 2020 |
|---|---|---|
| Stakeholder consultation and engagement | Implement the stakeholder engagement framework | Maintain stakeholder satisfaction over 75 per cent |
| Timeliness (processes/systems in place) | Increased online capability as part of Victorian Energy Efficiency Target digital portal upgrade | 10 per cent increase in capacity to handle VEET business forms by reducing application processing times |
| Incentive-based regulation | Review the new water pricing framework | Provide evidence that water businesses have pursued cost efficiencies or delivered better services |
| Risk-based strategies | Apply a risk-based and targeted approach to enforcement in the energy sector | Develop targets in 2018–19 |
| Compliance related | Conduct user testing to confirm website redevelopment has led to improvements for users | Testing shows the website is ‘easy to use’ 63 per cent of the time |