Our annual reports review our performance for each financial year.
Annual reports
Overview
Our annual reports review our performance for each financial year. In 2019-20, our annual report showed how we ensured Victorians had ongoing access to essential services that are reliable and at fair prices.
View the latest annual report
Our Annual Report 2019-20 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
In last year’s report I expressed my confidence that the commission was well positioned to embrace future challenges. As I reflect on the past year, I’m sure most would agree that the challenges of 2019– 2020 have indeed been extraordinary.
As we adapted by moving online to do our work, what became clear to us was that our role, promoting the long term interests of Victorians in relation to the price, quality and reliability of essential services, has never been more important.
- Kate Symons, Chairperson of the Essential Services Commission
Read Kate's foreword from our Annual Report 2019-2020.
From the CEO
2019–20 has been an exceptional year. We have heard the expression ‘unprecedented times’ reverberate around the world as the biggest health crisis of our time encircled the globe.
The challenges posed by 2019–20 have not been experienced on this scale for a century. But the extraordinary response of commission staff, who continued to work to deliver support for all Victorians, was unparalleled – but also completely within character.
- John Hamill, CEO of the Essential Services Commission.
Read John's message from our Annual Report 2019-20.
View more about our leaders.
Key highlights 2019-20
$2,080,000
We issued $2,080,000 in penalties to energy companies.
6.9 million tonnes
6.9 million tonnes of greenhouse gas savings were delivered through our Victorian Energy Upgrades program in 2019-20.
100%
All Victorian local councils complied with the state’s rate cap, or a variation approved by us
What we do
We promote the long-term interests of Victorian consumers with respect to the price, quality and reliability of essential services.
We promote consumer interests by regulating Victoria’s energy, water and transport sectors.
Our work also includes administering the Victorian Energy Upgrades program, which aims to reduce greenhouse gases by making energy efficiency improvements more affordable for consumers.
Our work helps Victorian customers have more power over things they use every day. We’ve succeeded in encouraging water, electricity and gas companies to provide better family violence support for vulnerable customers, and published information that gives ratepayers a clearer picture of how well their local council is performing.
Our values
Integrity
- Be transparent and consistent in making decisions.
- Clearly explaining the rationale behind decisions.
- Acting openly and honestly.
Impartiality
- Basing advice and decisions on merit,
- without bias, caprice, favouritism or self-interest.
- Acting fairly by objectively considering all relevant facts and fair criteria.
Respect
- Treating people fairly, objectively and with dignity.
- Considering the views of others to improve outcomes on an ongoing basis.
Excellence
- Being rigorous in the assessment of data and information.
- Exhibiting clear, evidence-based decision-making.
- Challenging traditional approaches and exploring new ideas based on the latest economic and regulatory thinking.
Collaboration
- Sharing information and knowledge across the organisation.
- Adopting an open and constructive approach to addressing and resolving issues with stakeholders.
- Providing or taking opportunities across the organisation to jointly deliver influential outcomes.
Our three-year strategy
Our three-year strategy was updated in 2020 to meet the demands of our changing world. Extended to 2023, the strategy describes our priorities and how we are transforming to reinforce our standing as a leading regulator.
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Scepticism about the effectiveness of markets for essential services is driving more interventionist approaches to regulating these markets. |
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The coronavirus pandemic has had a direct impact on our operating environment, consumers and the businesses we regulate, and has dramatically changed the economic environment. |
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Climate change and increased frequency and intensity of extreme weather is driving demand for greater energy efficiency and innovation and putting greater demands on infrastructure. |
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Regulators are increasingly being challenged to take more effective and proportionate enforcement action. |
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Technology and innovation will continue to disrupt markets and supply chains in ways that hinder the effectiveness of our current regulatory tools. |
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Understanding vulnerability and how our role impacts marginalised customers has become critical to our work in promoting the long term interests of Victorians. |
Financial overview
Our primary fiscal objective is to minimise our costs to government and our fee-paying industries while maintaining our effectiveness and quality of services.
In 2019–20, we achieved an operating surplus of $0.149 million, $1.511 million lower than in 2018–19. A summary of our financial performance is outlined below and shows the movements in actual income, expenses, balance sheet items and net cash flow.
Financial summary for 2019-20
| Comprehensive operating statement | |
| Total income from transactions | 28,728,156 |
| Total expenses from transactions | 28,539,801 |
| Net results from transactions | 188,355 |
| Comprehensive result | 149,263 |
| Balance sheet | |
| Total Assets | 23,301,400 |
| Total liabilities | 9,150,481 |
| Net assets | 14,150,919 |
| Cash flow | |
| Net cash flow from operating activities | 1,505,481 |
View our annual report supporting resources
10 December 2020
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 2019-20. List of consultancies under $10,000 can be provided on request.
(pdf, 89.43 KB)
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All annual reports
Annual report 2019-20
Supporting resources
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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.
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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.
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