ICCC Roles and Function in Regulated Industries
The ICCC’s roles and functions are primary to ensure efficient regulation of declared entities, industries and natural monopolies and by doing so ensure that:
The bona fide interests of consumers of regulated services with regard to price, quality and reliability of goods and services are promoted and protected
Consumers benefit from competition and efficiency of regulated market performance;
Regulated entities do not misuse of market dominance or power;
Efficient operation and investment in regulated industries is encouraged and promoted;
Legitimate business interests of the regulated entity are promoted;
Efficient costs of supplying regulated goods and services are promoted; and
Return on assets required to sustain past and future investments in the industries for supplying regulated goods/services are promoted.
Subject to Government’s request or by its own violation, the ICCC undertakes reviews into industries in highly concerntrated markets with a view to provide the Government with practical recommendations for evidence-based policy options.