Our annual reports review our performance for each financial year.
Annual reports
Overview
Our annual reports review our performance for each financial year. In 2018-19, our annual report showed how we enabled Victorians to have more power over things they use every day.
View the latest annual report
Our Annual Report 2018-19 gives you an overview on work we completed, how we performed on key goals, and what we plan to do in the future.
From our chairperson
'I am confident that the commission is well-positioned to embrace future challenges and I look forward to being part of the team as the commission embarks on its next chapter as an independent regulator that promotes the long-term interests of Victorian consumers.'
- Kate Symons, Chairperson of the Essential Services Commission
Read Kate's foreword from our Annual Report 2018-19.
From the CEO
'During the course of this year, we have continued to deliver on our commitments see positive improvement in our regulatory practice.'
- John Hamill, CEO of the Essential Services Commission.
View more about our leaders.
Key highlights 2018-19
22 new electricity and gas licenses
We issued 22 new energy licenses, including 12 electricity generation licenses, four electricity and two gas retail licenses and four electricity wholesale licenses, meaning Victorians will have access to extra 1560 MW electricity capacity and more choice.
Flat or falling water prices for Victorians
We saw the impact of its new water pricing framework which confirmed flat or falling water prices for the majority of Victorians. An independent review of the framework, which prioritises customer satisfaction found it ‘provided incentives for water businesses to deliver better value for customers, either through lower prices or better services’.
53 million tonnes of greenhouse gases avoided
Since 2009, our Victorian Energy Upgrades program has avoided the emission of up to 53 million tonnes of greenhouse gas.
Communication and engagement
We continued to promote effective and efficient communication throughout 2018-19.
Continuing improvements
Each year, we run an annual survey and collect responses from more than 350 stakeholders on how we've kept them updated on key decisions, workshops and other useful information.
Between 2017 and 2019, results from our reputation surveys have improved across all measures, with 'communication with stakeholders' and 'the commission's processes' improving the most.
How we compared
We checked our performance on how we communicate to stakeholders against Australian regulators benchmarks
Our reputation survey performance against four key indicators (2017-2019)
Our people
We're promoting flexible work opportunities, enhancing health and wellbeing, and developing our people's skills.
In 2018-19, our people and culture team:
- continued our mentoring program with the Department of Premier and Cabinet and the Department of Treasury and Finance, with seven mentors and 12 mentees
- ran a strengths based leadership program designed to strengthen and grow executive leadership within the executive team
- implemented a new performance and development system in 2018
- supported 58 externally advertised recruitments in 2018-19
- employed four interns in partnership with the Department of Treasury and Finance
Financial overview
Our primary financial objective is to minimise our costs to government and fee-paying industries while maintaining our effectiveness and delivering a high quality of services.
This year, the commission achieved an operating surplus of $1.660 million, $1.370 million higher than 2017-18.
Financial summary for 2018-19
| Comprehensive operating statement | |
| Total income from transactions | 25,349,539 |
| Total expenses from transactions | 23,554,425 |
| Net results from transactions | 1,795,113 |
| Comprehensive result | 1,660,295 |
| Balance sheet | |
| Total Assets | 19,211,562 |
| Total liabilities | 5,380,733 |
| Net assets | 13,830,829 |
| Cash flow | |
| Net cash flow from operating activities | 180,329 |
View our annual report supporting resources
17 October 2019
As part of our annual reporting requirements, we publish a list of the consultants we've engaged for the previous financial year. This document should be read in conjunction with our Annual Report 2018-19.
(pdf, 125.25 KB)
17 October 2019
This resource lists all major publications (such as decisions, codes, determinations, consultation papers and electricity and gas licences) we produced in 2018-19.
(, )
17 October 2019
This resource lists all major submissions we received on projects we oversaw in 2018-19.
(, )
Got questions?
Contact us for more information.
All annual reports
Annual report 2018-19
Supporting resources
17 October 2019
As part of our annual reporting requirements, we publish a list of the consultants we've engaged for the previous financial year. This document should be read in conjunction with our Annual Report 2018-19.
(pdf, 125.25 KB)
17 October 2019
This resource lists all major publications (such as decisions, codes, determinations, consultation papers and electricity and gas licences) we produced in 2018-19.
(, )
Supporting articles
Annual report 2017-18
As part of our annual reporting requirements, we publish a list of the consultants we've engaged for the previous financial year. This document should be read in conjunction with our Annual Report 2017-18.
(XLSX, 223.06 KB)
20 September 2018
Victoria’s economic regulator has highlighted key decisions and regulatory reforms of the past year delivering real and tangible benefits for all Victorians in its Annual Report 2017-18.
(, )