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.

Cog wheel.

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 Expectation
Promoting the development of a low-cost, competitive energy sector
  • Monitor the market and behaviour of regulated entities.
  • Provide compliance assistance and advice. 
  • Collaborate with other regulators including Consumer Affairs Victoria, the ACCC and the Australian Energy Regulator. 
  • Take a range of enforcement actions.
  • Develop key performance indicators to track its progress. 
Improving electricity connections for new developments
  • Prioritise work to ensure faster and more transparent electricity connections at new Victorian housing developments. 
  • Work with the Department of Environment, Land, Water and Planning to expedite this work. 
Regulation of the waste and recycling sector
  • Work with the Department of Environment, Land, Water and Planning to implement a new waste Act during 2021.
Timeliness of regulatory processes
  • Improve energy licensing application processes to facilitate appropriate entry into the energy market in Victoria (particularly for energy generation). 
  • Complete a review of its energy licensing framework and update public guidance by June 2021.
  • Increase the capacity of the Victorian Energy Upgrades scheme to handle business forms by 10 per cent. Do this by reducing application processing times. 
Risk-based strategies focusing on low income and vulnerable consumers
  • Improve how the commission considers the benefits of regulation for low income and vulnerable consumers across all regulatory functions. 
  • Publish a vulnerability strategy by June 2021.
Stakeholder consultation and engagement
  • Promote community engagement through multiple channels to complete its digital strategy by November 2020.
Role clarity
  • Review all existing Memoranda of Understanding and update these as necessary.
2020 - 2022 statement of expectations
(pdf, 689.84 KB)
2018 - 2020 statement of expectations
(pdf, 429.75 KB)
2017-18 statement of expectations
(pdf, 370.02 KB)
2016-17 statement of expectations
(pdf, 374.87 KB)