Under the Pricing Order, Port of Melbourne is required to submit a Tariff Compliance Statement to the Essential Services Commission (ESC) by no later than 31 May each year. The Tariff Compliance Statement must explain how Prescribed Service Tariffs for the upcoming financial year comply with the Pricing Order.
Five year review
The ESC is responsible for monitoring and reporting on Port of Melbourne’s compliance with the Pricing Order. The ESC must conduct a public review of Port of Melbourne’s compliance with the Pricing Order every five years and report its findings to the ESC Minister.
The Essential Services Commission (ESC) has completed its inaugural 5-year review of PoM’s compliance with the Pricing Order, and its report was released in late January 2022.
Port of Melbourne Undertaking
Port of Melbourne has prepared an Undertaking addressing the findings of the review, which can be found in this summary document. The response demonstrates actions we have taken to remedy the findings of the ESC and ensure compliance going forward. The Undertaking has been accepted by the Assistant Treasurer the Hon Danny Pearson MP, who is the Minister for the ESC, and is legally binding until 30 June 2027, in line with the ESC’s next review.
In accepting the undertaking, the ESC Minister has acknowledged that he is satisfied that the terms of the undertaking offered by PoM are appropriate to adequately address the non-compliance with the Pricing Order. PoM looks forward to continuing to operate and develop the port in the interests of the Victorian economy and Victorian consumers.
For further information on the Port of Melbourne’s response to the five year review:
- Download the Port of Melbourne’s media statement
- Download Port of Melbourne Response to ESC Review Findings – Public Summary
More information about the ESC’s roles under the regulatory framework can be found on their website.
Pricing Order Amendment
The Port Rail Transformation Project is being funded by an amendment to the Pricing Order effective from 1 June 2020 that includes an increase in the tariff on full import containers of $9.75 per TEU. More information can be found below: