ACCC/AER Regulatory Conference 2017 – Panel Remarks by AEMC Chief Executive

28 July 2017

In a breakout panel session on day two of the ACCC/AER Regulatory Conference in Brisbane, AEMC Chief Executive, Anne Pearson, spoke about the Commission’s support for markets when the evidence shows they deliver the best outcomes for consumers.

“Markets tend to be the most efficient and lowest cost way of discovering what technologies and services work best for consumers, and shepherding change in that direction.”

Ms Pearson acknowledged however that markets suffer when there is information failure, inadequate competition, or other factors that distort price and other important signals. She gave examples of the regulatory tools the Commission uses to address energy market failures, saying it’s all about balance:

“We could regulate everything, but it would be more expensive and it would stifle innovation…we could regulate nothing, and consumers would be completely exposed. So we have to strike a balance.”