ICCC

SDO PNG cleared to acquire NBPOL's downstream business

ICCC Commissioner and Chief Executive Officer Paulus Ain said this is following ICCC's assessment that the Proposed Acquisition would not have the effect of substantially lessening competition in any market(s) in Papua New Guinea (PNG).

ICCC announces new fuel prices

These new fuel prices are for customers in Port Moresby. They are, Petrol K4.66 per liter, Diesel K4.39 per liter, and Kerosene K4.05 per liter.

Other centers will have their retail fuel price change depending on their quarterly approved domestic freight rates for the second quarter of 2024.

ICCC release pricing review

These are provided by the merged Water PNG Limited (Water PNG) throughout its service areas in the country.

Based on the submissions received on the Draft Report, which was released on 11th November 2022, the ICCC has now completed the pricing review.

The Final Report outlines the ICCC’s Final Determinations for the regulation of Water PNG’s water and sewerage services for the next five years, commencing 1st January, 2023.

The ICCC’s principal determination is that rates for water and sewerage services will continue to be regulated.

ICCC releases final MVIL report

The final report and contract have been updated after incorporating the submissions and comments received from all relevant stakeholders. The final report contains the ICCC’s determinations and new premiums paths that will be implemented in the new regulatory period, which will effective from 1st January 2023 to 31st December 2027. 

ICCC Approves Telstra Buyout of Digicel Pacific

ICCC Commissioner and CEO, Paulus Ain said while acknowledging that Telstra is one of the four big telecommunication operators in Australia, the ICCC has concluded that this Proposed Acquisition is not likely to have the effect of substantially lessening competition in any markets Digicel is currently operating in PNG, because Telstra has but very limited presence in PNG markets.

 

Mr Ain said the ICCC therefore decided to allow Telstra to acquire Digicel PNG and its subsidiaries.

 

Transfer invalid, ICCC says

The statement was directed to key government Ddepartments, statutory agencies, PNG Power Limited (PPL), Independent Power Producers (‘IPP), development partners and donors, the private business community and investors, and relevant stakeholders.

Retail Fuel Prices Increase

The Indicative Retail Prices for petrol, diesel and kerosene will all increase significantly on average, throughout PNG. 
 
  • Petrol prices will increase by 25.99 toea per liter.
  • Diesel prices will increase by 32.06 toea per liter.
  • Kerosene prices will increase by 30.91 toea per liter.
 
The significant increase in domestic fuel prices was mainly attributed to the 17.48 percent average price increase in crude oil prices from December 2021 to January 2022.  
 

Proactive Leadership To Address Power Issues

ICCC Commissioner and CEO, Paulus Ain said the impact of continuous power outages has affected electricity paying customers and businesses alike.

He said: “The various articles published on 16th November, 2021 in both dailies paints the unfortunate reality of PNG’s power sector, but the problems affecting PPL’s reliable power services cannot be rectified by PPL alone.”

Mr Ain said the problems affecting PPL need collaborative and coordinated effort from all key stakeholders and those continuous power problems are amplified by:

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Santos Seeks Approval For Merger

The ICCC has formally announced this to key stakeholders, the public and participants in the oil and gas industry, that it has received an Authorization Application from Santos Ltd, an Australian energy company.

The Authorization Application is consistent with section 82 of the ICCC Act 2002, for business, mergers and acquisition. This process allows a business to seek approval from the ICCC before proceeding with any business mergers and acquisitions that would otherwise raise serious concerns.

ICCC Approves Code-sharing For Airlines

On 9th of April, 2021, Link PNG lodged an application for authorization in accordance with Section 70 of the ICCC Act 2002, to enter into and give effect to a proposed JOA which includes provision of a proposed Code-share Agreement with PNG Air for the duration of five years.