ACCC Chair Rod Sims delivers a speech at the 2018 Giblin Lecture on the behaviours the ACCC has seen from companies, why the behaviours may occur and what should be done about it.
In a speech to the Australian Conference of Economists in Canberra today, Chair Rod Sims discussed the ACCC’s approach to market intervention in our current inquiries.
“Enhancing competition does not mean protecting all market participants from failure, nor does consumer protection extend to shielding consumers from price increases set by the markets.”
ACCC Chair Rod Sims delivers a speech to the Australian Conference of Economists, discussing a number of inquires the ACCC is involved with, including the digital platforms inquiry, the retail electricity prices inquiry and the consumer data right.
The ACCC’s recommendations to significantly improve electricity affordability for Australian consumers and businesses are outlined in its final Retail Electricity Pricing Inquiry report, released today.
The Inquiry, which commenced in March 2017, began by identifying the root causes of high electricity prices across the entire electricity supply chain, and has now made 56 recommendations detailing ways to fix the National Electricity Market.
The Full Federal Court has partially upheld an appeal by the ACCC against an earlier judgment dismissing the ACCC’s case against LG Electronics Australia Pty Ltd (LG).
The Full Court found that LG made two representations to consumers that were false, overturning the initial court decision, but dismissed the ACCC’s appeal in respect of other LG statements made to consumers.
After 1 July, Australian consumers will have much greater certainty about the origins of the food they buy, due to the introduction of mandatory Country of Origin food labelling. The ACCC will conduct market surveillance checks on 10,000 food products to ensure businesses are correctly displaying the new labels.
All businesses–including manufacturers, processors and importers that offer food for retail sale in Australia–will need to comply with the Country of Origin Food Labelling Information Standard, which specifies how claims can be made about the origin of food products.
The ACCC has sought Special Leave from the High Court to appeal the Full Federal Court‘s judgment of 25 May 2018 which upheld the dismissal of allegations against Pfizer Australia Pty Ltd (Pfizer) by the trial judge.
The ACCC alleges that Pfizer misused its substantial market power and engaged in exclusive dealing conduct for an anti-competitive purpose in breach of the Competition and Consumer Act 2010 (CCA).