Regulating Infrastructure & Utilities (LAWS70104)

This subject provides students with a sophisticated understanding of the economic theory and principles underpinning the regulation of utility infrastructure and services such as telecommunications, gas, electricity, rail, airports and ports. Such regulation often determines the level of competition, the prices paid by consumers and the returns to investors in these industries. The subject examines in detail the access regimes in the Australian Competition and Consumer Act (2010), and how they have been practically applied. Drawing comparisons with the experience in this field in Europe and the Asia-Pacific region, it explores how regulators and the courts have determined which services should be subject to regulation and what principles and processes regulators have used to set terms and conditions (including prices) for these services. The lecturers in the subject comprise an economist and a lawyer with over 25 years’ combined experience working for competition regulators, the courts, regulated entities and economic consulting and legal firms representing both infrastructure access-seekers and access-providers on regulatory issues.

Principal topics include:

• Underlying economic principles and policy intention behind third party access and utility infrastructure regimes in Australia and other overseas jurisdictions
• Outline of third party access regimes in Part IIIA and Part XIC of the Competition and Consumer Act (2010)
• Consideration of previous and ongoing examples of the application of access regimes in Australia and other overseas jurisdictions
• Legal and economic meaning of key terms and expressions in access regimes (e.g. promotion of competition, efficient use/operation of infrastructure/facilities and legitimate business interests of access provider)
• Assessment of whether legislative frameworks and administrative and enforcement approaches are well designed to achieve the regulatory objectives of third party access and utility infrastructure regimes