On 4 December 2017 the Treasurer, the Hon Scott Morrison MP, issued Terms of Reference (ToR) to the ACCC, directing it to conduct an 18 month long public inquiry into the impact of digital platform services on the state of competition in media and advertising services markets, pursuant to s 95H(1) of the Competition and Consumer Act (CCA) (Inquiry). ACCC Chair Rod Sims has called this a "world first" inquiry of its kind into digital platforms that goes to “the heart of their business models”.
Businesses are increasingly using, developing and improving their ability to promptly respond to market conditions, innovate product offerings, and set prices using algorithms and artificial intelligence systems (AI).
The Australian Government announced on 17 October 2017 its new energy policy in which it proposes to adopt the recommendation of the Energy Security Board to implement a National Energy Guarantee. The new energy policy confirms the Turnbull Coalition Government’s anticipated rejection of the Finkel Review’s key recommendation of a Clean Energy Target. In particular, the ‘technology-neutral’ nature of the NEG presents a departure from the priorities of the formerly proposed CET, which would have favoured investment in renewable energy sources such as wind and solar.
This update covers the last two weeks (to Friday 13 October) so does not include the ACCC preliminary report in response to its Retail Energy Pricing Inquiry or the Energy Security Board’s recommendation to COAG Energy Ministers on a Retailer Reliability and Emissions Guarantee.