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Title page 1

Contents 5

Letter of transmittal 4

1. Year in review 8

Our year at a glance 2025-26 9

2025-26 review: ACCC Chair, Gina Cass-Gottlieb 11

2025-26 review: AER Chair, Clare Savage 17

Corporate snapshot 20

2. Agency overview 22

About the ACCC and AER 23

Performance measurement and reporting framework 31

3. Annual performance statements 36

Statement of preparation 37

Program 1.1 - Australian Competition and Consumer Commission 38

Strategic objective 1: Address anti-competitive conduct and promote competition 41

Strategic objective 2: Prevent anti-competitive mergers 61

Strategic objective 3: Improve competition and choice by ensuring safe, secure and privacy focused data sharing by consumers through... 66

Strategic objective 4: Protect consumers from misleading and deceptive conduct and scams, and promote fair trading 82

Strategic objective 5: Protect consumers from unsafe products 110

Strategic objective 6: Regulate monopoly infrastructure and monitor concentrated and key markets in the long-term interests of consumers 122

Program 1.2 - Australian Energy Regulator 131

Strategic objective 1: Protect vulnerable consumers while enabling all consumers to participate in electricity and gas markets 133

Strategic objective 2: Effectively regulate competitive electricity and gas markets primarily through monitoring and reporting, and... 141

Strategic objective 3: Deliver efficient regulation of monopoly electricity and gas infrastructure while incentivising networks to become... 148

Strategic objective 4: Evolve our regulatory frameworks and approaches to support the transition to net zero emissions 157

Regulatory practice 164

4. Management and accountability 170

Senior leadership 171

Managing the ACCC and AER 178

External scrutiny 190

Procurement 193

Asset management 196

Strategic objective 7: Improve our own systems, capabilities and ways of working 197

5. Financial statements 212

6. Appendixes 242

Appendix 1: Entity resource statement and expenses by outcome 243

Appendix 2: Management of human resources 245

Appendix 3: Mandatory executive remuneration reporting 253

Appendix 4: Work health and safety 257

Appendix 5: Advertising and market research - section 17AH(1)(a)(i) 258

Appendix 6: Environmental sustainability 260

Appendix 7: Information required under the Competition and Consumer Act 2010 269

Appendix 8: Information required under the National Energy Retail Law, National Gas Law, National Electricity Law 280

Glossary of abbreviations and acronyms 281

Compliance index 286

Index 298

Tables 21

Table 1.1. Average staffing level 2022-23 to 2025-26 21

Table 2.1. Assessment of results for performance measures 32

Table 2.2. ACCC strategic objectives and key activities 33

Table 2.3. AER strategic objectives and key activities 34

Table 3.1. Performance measures for the principles of regulator best practice 40

Table 3.2. Performance measures for strategic objective 1 43

Table 3.3. Cartel immunity applications 2025-26 51

Table 3.4. Performance measures for strategic objective 2 62

Table 3.5. Performance measures for strategic objective 3 69

Table 3.6. Performance measures for strategic objective 4 83

Table 3.7. Contacts recorded in 2025-26 105

Table 3.8. Performance measures for strategic objective 5 112

Table 3.9. Performance measures for strategic objective 6 124

Table 3.10. Performance measures for strategic objective 1 134

Table 3.11. Performance measures for strategic objective 2 143

Table 3.12. Performance measures for strategic objective 3 150

Table 3.13. AER energy network determinations completed, 2025-26 153

Table 3.14. Performance measures for strategic objective 4 158

Table 3.15. Performance measures for regulatory practice 165

Table 4.1. ACCC members during 2025-26 171

Table 4.2. AER members during 2025-26 175

Table 4.3. Committees of Commission - as at 30 June 2026 180

Table 4.4. Subject-matter committees and Divisions of the AER - as at 30 June 2026 183

Table 4.5. Audit and Risk Committee - 2025-26 185

Table 4.6. Expenditure on reportable consultancy contracts (2025-26) - PGPA Rule subparagraphs 17AG(7)(a)(i)-(iv) 194

Table 4.7. Organisations receiving a share of reportable consultancy contract expenditure (2025-26) - PGPA Rule subsections 17AGA(2)-(3) 194

Table 4.8. Expenditure on reportable non-consultancy contracts (2025-26) - PGPA Rule subparagraph 17AG(7A)(a)(i)-(iv) 195

Table 4.9. Organisations receiving a share of reportable non-consultancy contract expenditure (2025-26) - PGPA Rule subsections 17AGA(2)-(3) 195

Table 4.10. Performance indicators for strategic objective 7 197

Table 4.11. ACCC and AER turnover according to separation type 2025-26 205

Figures 20

Figure 1.1. ACCC and AER expenditure 2025-26 20

Figure 2.1. Organisational structure of the ACCC and AER (at 30 June 2026) 24

Figure 3.1. Ongoing CDR authorisations growth 73

Figure 4.1. ACCC and AER governance structure (as at 30 June 2026) 179

Appendix Tables 243

Table A1.1. Entity resource statement 2025-26 243

Table A1.2. Expenses for Outcome 1 2025-26 244

Table A2.1. All ongoing employees, current report period (2025-26) 246

Table A2.2. All non-ongoing employees, current report period (2025-26) 247

Table A2.3. Australian Public Service Act ongoing employees, current report period (2025-26) 248

Table A2.4. Australian Public Service Act non-ongoing employees, current report period (2025-26) 249

Table A2.5. Australian Public Service Act employees by full-time and part-time status, current report period (2025-26) 250

Table A2.6. Australian Public Service Act employment type by location, current report period (2025-26) 251

Table A2.7. Australian Public Service Act Indigenous employment (2025-26) 251

Table A2.8. Australian Public Service Act Employment arrangements (2025-26) 252

Table A2.9. Salary ranges for APS employees at 30 June 2026 252

Table A3.1. Key management personnel - PGPA Rule Subparagraphs 17AE(1)(aa)(i)-(iii) 253

Table A3.2. Information about remuneration for key management personnel - PGPA Rule Subsection 17AD(da) 254

Table A3.3. Information about remuneration for senior executives PGPA Rule Subsection 17AD(da) 255

Table A3.4. Information about remuneration for other highly paid staff PGPA Rule Subsection 17AD(da) 256

Table A5.1. Advertising and market research payments of more than $17,300 in 2025-26 259

Table A6.1. Climate risk roles and responsibilities 261

Table A6.2. Climate risk assessment scenarios 263

Table A6.3. Climate risks and opportunities 264

Table A6.4. 2025-26 Greenhouse gas emissions inventory - location based method 266

Table A6.5. 2025-26 Electricity greenhouse gas emissions 266

Table A7.1. Exceptions under Commonwealth, state or territory legislation 270

Table A7.2. Types of acquisitions by ANZSIC code of the transaction - Notification Waiver Applications determined 272

Table A7.3. Types of acquisitions by transaction value - Notification Waiver Applications determined 273

Table A7.4. Types of waiver by type of acquisition 273

Table A7.5. Types of acquisitions by ANZSIC code of the transaction - Notifications determined 274

Table A7.6. Types of acquisitions by transaction value - Notifications determined 274

Table A7.7. Types of notifications by type of acquisition 275