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Essential Services Commission (Victoria)
The Essential Services Commission (ESC) is the economic regulator established by the State Government of Victoria, Australia to regulate prescribed essential utility services supplied by the Victorian electricity, gas, water, ports and rail freight industries and advise or report on aspects of the transport and statutory insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ... sectors. In 2009, the Commission assumed the administration of the Victorian Energy Efficiency Target scheme. Economic regulation of Victoria's electricity and gas distribution networks transferred from the commission to the Australian Energy Regulator on 1 January 2009. The ESC commenced operations as Victoria's independent economic regulator on 1 January 2002, subsuming the Office of the Regulator-Gen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Agency
A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulating capacity. These are customarily set up to strengthen safety and standards, and/or to protect consumers in markets where there is a lack of effective competition. Examples of regulatory agencies that enforce standards include the Food and Drug Administration in the United States and the Medicines and Healthcare products Regulatory Agency in the United Kingdom; and, in the case of economic regulation, the Office of Gas and Electricity Markets and the Telecom Regulatory Authority in India. Legislative basis Regulatory agencies are generally a part of the executive branch of the government and have statutory authority to perform their functions with oversight from the legislative branch. Their actions are often open to legal review. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Victoria
The Victoria State Government, also referred to as just the Victorian Government, is the state-level authority for Victoria (Australia), Victoria, Australia. Like all state governments, it is formed by three independent branches: the executive, the Supreme Court of Victoria, judicial, and the Parliament of Victoria, parliament. As a parliamentary system, parliamentary constitutional monarchy, the State Government was first formed in 1851 when Victoria first gained the right to responsible government. The Constitution of Australia regulates the relationship between the Victorian Government and the Australian Government, and cedes legislative and judicial supremacy to the federal government on conflicting matters. The Victoria State Government enforces Act of Parliament, acts passed by the parliament through government departments, statutory authorities, and other public agencies. The Government is formally presided over by the Governor of Victoria, Governor, who exercises execu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Utility
A public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and regulation ranging from local community-based groups to statewide government monopolies. Public utilities are meant to supply goods/services that are considered essential; water, gas, electricity, telephone, and other communication systems represent much of the public utility market. The transmission lines used in the transportation of electricity, or natural gas pipelines, have natural monopoly characteristics. If the infrastructure already exists in a given area, minimal benefit is gained through competing. In other words, these industries are characterized by ''economies of scale'' in production. There are many different types of public utilities. Some, especially large companies, offer multiple products, such as electricity and natu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Port
A port is a maritime facility comprising one or more wharves or loading areas, where ships load and discharge cargo and passengers. Although usually situated on a sea coast or estuary, ports can also be found far inland, such as Hamburg, Manchester and Duluth; these access the sea via rivers or canals. Because of their roles as ports of entry for immigrants as well as soldiers in wartime, many port cities have experienced dramatic multi-ethnic and multicultural changes throughout their histories. Ports are extremely important to the global economy; 70% of global merchandise trade by value passes through a port. For this reason, ports are also often densely populated settlements that provide the labor for processing and handling goods and related services for the ports. Today by far the greatest growth in port development is in Asia, the continent with some of the world's largest and busiest ports, such as Singapore and the Chinese ports of Shanghai and Ningbo-Zhou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rail Freight Transport
Rail freight transport is the use of railroads and trains to transport cargo as opposed to human passengers. A freight train, cargo train, or goods train is a group of freight cars (US) or goods wagons (International Union of Railways) hauled by one or more locomotives on a railway, transporting cargo all or some of the way between the shipper and the intended destination as part of the logistics chain. Trains may haul bulk material, intermodal containers, general freight or specialized freight in purpose-designed cars. Rail freight practices and economics vary by country and region. When considered in terms of ton-miles or tonne-kilometers hauled per unit of energy consumed, rail transport can be more efficient than other means of transportation. Maximum economies are typically realized with bulk commodities (e.g., coal), especially when hauled over long distances. However, shipment by rail is not as flexible as by the highway, which has resulted in much freight being haul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Agencies Of Victoria (state)
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixed governm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Victoria (state)
The state of Victoria is the second-largest economy in Australia after New South Wales, accounting for 23.24% of the nation's gross domestic product, valued at A$515.2 billion in 2022. The economy is primarily built upon financial services, agriculture, healthcare and social assistance, tourism and construction. Victoria's main exports are agricultural and pharmaceutical products, while the largest employer in the state is the healthcare and social assistance sector. Economic history Aboriginal Australians in Victoria primarily lived within a hunter-gatherer economic system with the effective adoption of the fire-stick farming method. In the early days of the 1820s, the pioneer European colonists arriving from the sea kept pushing the exploration boundary further inland to search for fertile grazing land. In 1851, gold was first discovered at Warrandyte which is 26km (16 miles) from Melbourne, leading to rushes. By the end of 1851, half the population of the colony were w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
