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ESC supports rate cap variation

News Article Date: 
Tuesday, 4 June 2019

The Essential Services Commission (ESC) has approved Council’s application to vary the rates above the cap applied by the Victorian Government.

At its March meeting Council voted to apply to the ESC to vary the rate cap.

The proposed variation was for an additional two per cent above the cap of 2.5 per cent for the next three financial years.

The ESC approved the proposed higher cap of 4.5 per cent for 2019-2020 and 2020-2021 but not for 2021-2022.

The ESC stated that it was “satisfied the approved higher caps are appropriate, because the council faces immediate and ongoing funding pressure”.

“The ESC, the independent regulator that promotes the long term interests of Victorian consumers with respect to the price, quality and reliability of essential services, assessed Council’s submission over several weeks before reaching its determination,” Council Chief Executive Officer Peter Schneider said.

“The ESC was satisfied that Council was using other available means to contain expenses and to generate revenue.

“While the ESC was assessing the application Council prepared two draft budgets – one with a rate cap variation, the other with a variation.

“Council now has the option to adopt a budget with the rate cap variation when it meets on June 24.” 


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