ABSTRACT
This chapter reviews the reforms to Australian competition policy introduced in November 1995, paying particular attention to the reforms relating to the regulation of public utilities.
The general reforms have a number of distinctive features including:
• the establishment of a comprehensive competition policy; • the establishment of a national policy based on an agreement between the
Australian government and state and territory governments; • the establishment of a generic access law embodied in a new part of the
Trade Practices Act. This regime applies in principle to all sectors although its main practical application is to public utilities in such areas as communications, energy and transport;
• the transfer of substantial economic regulatory functions to the national competition agency;
• a strong commitment by national state, and territory governments to an effective policy.
