Monopoly prices oversight: a mechanism that seeks to ensure government monopolies and non-government essential infrastructure monopolies do not charge excessive prices for their products or services.
The QCA uses pricing and other regulatory arrangements, which are based on sound economic and commercial principles, to encourage certain monopoly businesses to operate responsibly and fairly in the absence of normal competitive market forces.
Prices oversight prevents government and non-government monopolies (or near-monopolies) from abusing their market power by charging excessive prices for their products or services – because they either have no competitors or existing ones are not effective.
The QCA may investigate pricing practices of such monopolies or, in other cases, simply monitor their pricing practices, depending on the referral from the Treasurer and Minister for Trade. We only performs these functions on the request of the Minister.
The monopoly prices oversight powers of the QCA enable consumers to enjoy fair market prices, while businesses still earn a reasonable investment return – thus ensure a beneficial outcome for all.