THE House Environment and Energy Committee will hear from the Australian Energy Market Operator (AEMO) at a public hearing tomorrow for the inquiry into modernising Australia’s electricity grid.

The Chair of the Committee, Andrew Broad MP, said the Committee was looking forward to hearing from AEMO about measures to ensure the security and reliability of the electricity system, both in the short term and as the system continues to evolve.

“As the market operator, AEMO is on the front line of the changes underway in the electricity grid. The Committee is keen to hear from AEMO what measures it thinks will encourage more dispatchable capability on the grid,” Mr Broad said.

The Committee will also hear from the Energy Efficiency Council, which represents stakeholders with experience in energy efficiency and related issues, such as demand management.

The Deputy Chair of the Committee, Mr Pat Conroy MP, said the Committee was looking forward to hearing about the role of demand management in achieving a more reliable and affordable electricity system.

“Demand management is an important consideration for the Committee as it examines how to ensure a responsive modern grid,” Mr Conroy said.

As part of the inquiry, the Committee is encouraging members of the community to share their views on the electricity system via an online questionnaire.

Further information about the inquiry, including submissions from organisations appearing at the hearings, is available on the inquiry website.

Public hearing details: 9:45 am to 11:15 am, Thursday, 14 September, Parliament House, Canberra

The hearing will be broadcast live at aph.gov.au/live

ends

THE House Committee on Economics will scrutinise the Australian Securities and Investments Commission (ASIC), as part of its review of the performance and operation of Australia’s corporate regulator.

The Chair of the committee, David Coleman MP, said ‘the hearing will provide the Committee with the opportunity to scrutinise ASIC on its role in promoting investor and consumer confidence, and in enforcing Australian corporate law.’

ASIC regulates Australian companies, financial markets, financial services organisations and professionals who deal and advise in investments, superannuation, insurance, deposit taking and credit. ASIC is empowered to protect consumers against misleading or deceptive and unconscionable conduct affecting all financial products and services, including credit.

Public hearing details: 12.15 pm to 1.55 pm, Thursday 14 September, Committee Room 2R1, Parliament House, Canberra

12.15pm – 1.55pm: Australian Securities and Investments Commission
1:55pm: Close

The hearing will be broadcast live at aph.gov.au/live

 Interested members of the public may wish to track the committee via the website. 

ends

THE House Committee on Economics will scrutinise the Australian Prudential Regulation Authority (APRA), as part of its review of the performance and strengths of Australia’s financial and banking regulator.

The Chair of the committee, David Coleman MP, said ‘the hearing will enable the Committee to scrutinise APRA on its performance and operation, including the adoption of “unquestionably strong” capital benchmarks for the four major banks, and further measures to reinforce sound residential mortgage lending practices. 

The committee is also likely to scrutinise APRA on other activities relating to the banking sector, including its inquiry into governance and culture at the Commonwealth Bank.

APRA is the prudential regulator of Australia’s financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurance, friendly societies, and most of the superannuation industry.

Public hearing details: 11.15 am to 1.15 pm, Wednesday 13 September, Committee Room 2R1, Parliament House, Canberra 

11.15am – 1.15pm: Australian Prudential Regulation Authority (APRA)
1:15pm: Close

The hearing will be broadcast live at aph.gov.au/live

Interested members of the public may wish to track the committee via the website. 

ends

THE House Committee on Tax and Revenue will hear tomorrow from the Australian Small Business and Family Enterprise Ombudsman about the factors that can drive a small business into the cash economy.

Chair of the Committee, Kevin Hogan MP, said that the Committee’s inquiry into taxpayer engagement has heard that small business operators can struggle to meet tax obligations through no fault of their own.  

“Small businesses can struggle with their tax obligations because larger businesses fail to pay them by agreed times. Phoenix activity, where a company goes bankrupt to avoid paying taxes as well its contractors and suppliers, is another major contributor to small business stress and insolvency,” Mr Hogan said.

The Ombudsman’s Office was established to assist small businesses and family enterprises should they find themselves involved in dispute with clients, other businesses or Commonwealth government agencies. The Ombudsman also plays a key role in reviewing government policies and regulations to ensure these are ‘small business friendly’.

“In April this year the Ombudsman released a report on payment times and practices which clearly showed the relationship between late payments, small business stress and tax avoidance. The Committee values the opportunity to explore these findings with the Deputy Ombudsman and to discuss the relatively high level of small business non-compliance recorded by the ATO,” Mr Hogan said.

Public hearing details: 4.15 pm to 5.15 pm, Wednesday 13 September, Committee Room 2R1, Parliament House, Canberra.

The hearing will be broadcast live at aph.gov.au/live

Interested members of the public may wish to track the committee via the website. 

ends