Washington, DC –Today the Postal Regulatory Commission released its Fiscal Year 2023 Annual Report to the President and Congress. By law, the Commission is required each year to address in its report information concerning the operations of the agency, 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.
Throughout the year, the Commission had several significant accomplishments that reflect its mission to provide transparency and accountability of Postal Service activities. In addition to reviewing and approving proposed rate changes for Market Dominant and Competitive products, new product proposals, and formal complaint adjudication, the Commission performed new activities as dictated by the Postal Service Reform Act (PSRA) and beyond. In FY 2023, the Commission:
- Issued a Flats Operation Study with principal findings as required by the PSRA
- Published reports that (1) reviewed the Postal Service’s compliance with pricing and service standards, (2) provided an in-depth analysis of the Postal Service’s finances, and (3) evaluated whether the Postal Service met its performance goals as required under the law
- Successfully implemented several of its strategic goals in its 2023-2028 Strategic Plan. In particular, the Commission completed a comprehensive stakeholder analysis that informed new activities currently underway surrounding the Commission’s engagement with stakeholders and the general public
- Initiated a Public Inquiry Docket to examine the recent and planned network changes associated with the Postal Service’s Delivering for America Plan
- Presided over rulemakings related to Commission processes and activities
A complete report of the Commission’s actions throughout Fiscal Year 2023 is available here and on the Commission’s website, www.prc.gov.
The Postal Regulatory Commission is an independent federal agency that provides regulatory oversight over the Postal Service to ensure the transparency and accountability of the Postal Service and foster a vital and efficient universal mail system. The Commission is comprised of five Presidentially-appointed and Senate-confirmed Commissioners, each serving terms of six years. The President designates the Chairman. In addition to Chairman Michael Kubayanda, the other commissioners are Vice Chairman Tom Day and Commissioners Ann Fisher, Ashley Poling, and Robert Taub. Follow the PRC on Twitter: @PostalRegulator and LinkedIn
