Independent regulator boosted by announcement of a new commissioner
22 August 2019
The state’s newest essential services commissioner says regulated businesses who do the right thing by customers have nothing to fear, but those who don’t should be ‘on notice’.
The Essential Services Commission, the state’s independent economic regulator has been boosted by the announcement that former ACCC commissioner Sitesh Bhojani will be joining the organisation next month.
Acting chair, Kate Symons says she is delighted to welcome Sitesh, a barrister and eight-year veteran of the ACCC, to the commission.
“Sitesh is not only highly experienced in competition and consumer law, his previous experience as a commissioner will be invaluable as the organisation grows and we further develop our enforcement capability,” she said.
Mr Bhojani says he’s pleased to be joining the regulator at a time when promoting fairer outcomes for consumers is a clear priority.
“The commission has been developing and implementing more customer focused frameworks across the energy and water sectors over the past few years, and the emphasis is now shifting to ensuring this translates to better outcomes for consumers” he said.
Mr Bhojani says regulated businesses that put customers at the heart of what they do have nothing to be concerned about, but those who don’t should be on notice.
“The community expects independent regulators to actively hold wrongdoers to account,” he said.
The new role will significantly increase the commission’s ability to enforce new energy rules brought about by the commission’s 2016 hardship inquiry into record disconnections as well as the independent review of electricity and gas retail markets.
It follows the Victorian Government’s commitment of an extra $27.27 million to the independent regulator over four years.