Australia’s National Competition Policy (NCP) has set out competition principles which extended the reach of competition law to previously exempt activities and provided a coherent framework for reforms in essential infrastructure industries. Among the major achievements are the establishment of an overarching national access regime – together with sector-specific regimes – which introduced thirdparty access arrangements for infrastructure services such as gas pipelines and rail track networks. Independent authorities were established in all jurisdictions to monitor and set prices for monopoly services. However, there remains unfinished business and the NCP infrastructure reform agenda was not exhaustive, leaving room for additional measures to improve the efficiency in essential areas such as electricity, water, road and rail transport.