Operating environment
In delivering services, we must meet a wide range of regulatory obligations in addition to meeting the reasonable expectations of customers. Our business is regulated under the Water and Sewerage Corporations Act 2008 and the Water and Sewerage Industry Act 2008. The Water and Sewerage Corporations Act 2008 sets up governance arrangements. The Water and Sewerage Industry Act 2008 provides for the establishment of an economic framework covering the provision of water and wastewater services and is similar to utility regulatory frameworks used in other jurisdictions.
Regulation of Southern Water is overseen by a number of statutory bodies who enforce a range of policy and regulatory instruments. Key stakeholders with regulatory responsibilities include:
- Office of the Tasmanian Economic Regulator
- Director of Public Health
- Director, Environment Protection Authority
- Ombudsman
- Local Government
- Department of Primary Industries, Parks, Water and Environment
- National Water Initiative and National Reporting Framework
In addition to these requirements, our owners expect that we will maintain a capability and governance structure to manage the water resources, the water supply and sewage services in a sustainable manner. These requirements are articulated in a shareholders’ Letter of Expectation which sets out their high level performance expectations and strategic priorities.