The inquiry found that, while the Port has power in the setting and reviewing of land rents, it has not exercised this power to the material detriment of Victorian consumers.
In coming to its findings for the period 1 November 2019 to 31 October 2024, the commission considered the:
process used to set and review land rents
Port’s compliance with this process
extent to which the land rents paid are ultimately passed through to Victorian consumers.
The report noted improvements in the rent setting process. The commission observed the Port’s willingness to negotiate on key commercial terms for new leases, with a clear framework for negotiation now established. This included a negotiation period for most leases of six months, down from twelve months of negotiations earlier in the review period.
The commission must undertake an inquiry every five years to ensure the Port’s rent setting process remains compliant with legislation.
