Queensland Competition Authority
| Statutory authority overview | |
|---|---|
| Formed | 1997 |
| Jurisdiction | The State of Queensland |
| Headquarters | Level 27, 12 Ann Street, Brisbane |
| Minister responsible | |
| Statutory authority executives |
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| Key document |
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| Website | www |
The Queensland Competition Authority (QCA), an independent statutory authority that was established by the Queensland Government in 1997, promotes competition as the basis for enhancing efficiency and growth in the Queensland economy.
The Authority is governed by a three-member Board. The Minister responsible for administering the Queensland Competition Authority Act is the Treasurer, Curtis Pitt.
The QCA's primary role is to ensure monopoly businesses operating in Queensland, particularly in the provision of key infrastructure, do not abuse their market power through unfair pricing or restrictive access arrangements.
Following a decision by the Queensland Government in 2012, their role was expanded to include responsibilities for the state’s regulatory reform, through the establishment of the Office of Best Practice Regulation (OBPR). The OBPR supports the Queensland Government’s strategy of reducing the burden of regulation on business and industry by 20% by 2018.
In support of the Queensland Government’s objective to improve productivity across the state, they also provide professional advice on productivity matters.
In terms of their enabling legislation, the Queensland Competition Authority Act 1997 (the QCA Act), their main responsibilities are:
The QCA use pricing and other regulatory arrangements, based on sound economic and commercial principles, to encourage monopoly businesses to operate responsibly 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 ineffective.
The QCA may investigate the pricing practices of such monopolies or monitor their pricing practices, depending on the referral from the Ministers responsible for administering the QCA Act (at present [2014] the Treasurer and Minister for Trade). They only perform these functions on request from the Minister.
The monopoly prices oversight powers of the QCA enable consumers to enjoy market prices, while businesses still earn a reasonable investment return – thus ensuring a beneficial outcome for all.
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