This article was featured as part of ESSA’s annual Equilibrium publication. Had anyone told me when I set out on my career in economics that one day I would become an ‘economic regulator’, I would have been somewhat bemused by the apparent tautology. The description, however, is somewhat misleading.
This morning, Chairperson of the Essential Services Commission (ESC), Dr Ron Ben-David, announced the ESC’s draft outcome for Melbourne’s water pricing for the next five years. An extensive 6-month investigation taking into account both the financial requirements of Melbourne’s water wholesaler and retailers, as well as the