Independent Consumer and Competition Commission (ICCC)

Retailers must comply: ICCC

ICCC Commissioner and CEO, Paulus Ain, says the prices set by the ICCC are the indicative maximum retail prices, for which retailers may choose to sell below the ICCC approved maximum price.

He made this statement following the announcement of new May fuel prices, which came into effect on Saturday, May 8.

“The ICCC would like to remind retailers who sell fuel using pumps to set fuel prices to one decimal place while the ICCC will continue to set the maximum price to 2 decimal places,” Ain stated.

PPL affected, power woes noted

The Independent Consumer and Competition Commission (ICCC) listed these reasons after acknowledging the electricity supply issues that are impacting all customer categories and businesses in Lae, Morobe Province.

ICCC Commissioner and Chief Executive Officer, Paulus Ain, said the ICCC noted a few issues that have certainly affected PPL’s performance and thus, the reliability of electricity supply around the country.

Some of these notable issues include:

February fuel prices to rise

For this month, the Indicative Retail Prices for petrol, diesel and kerosene will all increase on average throughout PNG. These price increases were mainly been attributed to the rise in crude oil prices in January 2021.  

The average crude oil price increased as a result of demand for heating oil and tighter global supplies by Saudi Arabia[1]. Furthermore, news regarding the developments of new COVID-19 vaccines has had a positive impact on commodity prices, including oil.

Paradise to acquire Hugo Canning

The Independent Consumer and Competition Commission (ICCC) recently made this announcement.

“This essentially means that, in its considerations of likely negative effects this acquisition may have on competition, the ICCC did not find any serious concerns,” stated the consumer watchdog.

“On 04th December 2020, Paradise Co lodged a clearance application seeking approval from the ICCC to proceed with acquiring Hugo.

New retail fuel prices for October

For this month, the Indicative Retail Prices (IRP) for petrol, diesel and kerosene will decrease on average throughout PNG. These retail price decreases are mainly attributed to the average reduction in the imported costs of petrol, diesel and kerosene for this month, and also the average drop in the road freight rates for this quarter (October-December).

ICCC releases outcome on probe into CPL pricing

Trading as Stop N Shop, it was alleged that the business was engaging in anti-competitive conduct.

The ICCC conducted market inquiries into the allegations to ascertain if CPL was pricing Pauls milk below landed costs and if this conduct breached relevant provisions of the Independent Consumer and Competition Commission 2002 (ICCC Act).

No issue with PML acquisition: ICCC

ICCC said the parties did not meet the mandatory pre-merger notification thresholds.

ICCC Commissioner and Chief Executive Officer, Paulus Ain, said as a good corporate citizen, MiBank took the initiative to inform the ICCC of its intention to acquire PML and asked for the ICCC’s views.

As a first step, the ICCC considered whether or not the acquisition would meet any of the two mandatory notification thresholds. Section 81(1) (a) and (b) of the ICCC Act specifically states that:

ANG codeshare with Philippine Airlines declined

The ICCC made this decision after assessing Air Niugini’s application and concluded that the POM/MNL route is already competitive; and introduction of this proposed code-share will stifle the current level of competition, including benefits currently enjoyed by the travelling public.

No competition issues with Laga acquisition: ICCC

Immediately following the announcement of the acquisition, the ICCC conducted an independent investigation and sought information from the PCL (the acquirer), including other market information available to it to complete its assessment of the acquisition.

The ICCC Commissioner and Chief Executive Officer, Paulus Ain, said the ICCC, from its independent assessment, identified and considered the relevant markets or the markets likely to be affected (directly and/or indirectly) by the acquisition to be:

Fuel prices to drop: ICCC

The average price decrease is mainly attributed to the reduction in the wholesale and retail margins for 2020. While there will be a general price decrease, there will be price increases in some centres and this is mainly due to increases in the 2020 retail margins for some centres.

The domestic retail fuel prices for this month are inclusive of the Import Parity Prices (IPP), domestic sea and road freight rates for the first quarter of 2020, the 2020 wholesale and retail margins, excise duty, and the Goods and Services Tax (GST).