PRC Releases Annual Report to the President and Congress
Washington, DC – Today the Postal Regulatory Commission released its Annual Report to the President and Congress summarizing many of the activities undertaken by the Commission throughout the year. Each year, the Commission is required to address in its report information concerning the operations of the Commission, including the extent to which regulations are achieving the rate-setting objectives of the Postal Accountability and Enhancement Act. The Commission’s report must also include an estimate of the costs incurred by the Postal Service to provide certain services that the Postal Service would not otherwise have provided except for the requirements of the law, and further provides an estimate for the value of the postal monopoly.
The Commission had several significant accomplishments throughout the year. In addition to reviewing and approving planned rate and classification changes for Market Dominant and Competitive products, new product proposals, and formal complaint adjudications, the Commission:
- Conducted rulemakings related to 1) service performance reporting requirements; 2) the letter monopoly; 3) rate incentives for Market Dominant products; and 4) the minimum appropriate share of institutional costs required to be borne by competitive products;
- Issued advisory opinions on Postal Service proposals to 1) change service standards for Retail Ground and Parcel Select Ground and 2) revise the critical entry times (CETs) for some categories of Periodicals mail; and
- Issued analytical reports on the Postal Service related to compliance with pricing and service standards; the financial health of the Postal Service; and evaluation of the Service’s performance goals and plan
The Commission also began and completed an extensive process to develop its five-year Strategic Plan for 2023-2028, designed to address and adapt to current and future scenarios in the postal system as it relates to the Commission’s regulatory responsibility.
The Commission’s complete Annual Report is hyperlinked above and available on its website at www.prc.gov.