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Parking Merger Could Increase Costs to Up to $50 an Hour, ACCC Raises Concerns

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Parking Merger,ACCC,Duncan Technologies

The Australian Competition and Consumer Commission (ACCC) has raised concerns over a potential merger between parking companies Duncan Technologies and Orikan Group, warning that it could lead to increased parking costs up to $50 per hour.

Consumer watchdog flags concerns over parking company acquisition as expert warns merger could send parking costs up to '$50 an hour'

Both companies specialise in managing parking facilities and operate the majority of parking metres in Australia. "We are concerned that the proposed acquisition would substantially lessen competition in the market for end to end on-street parking solutions as Duncan is the primary competitor to Orikan," Dr Williams said in a release.

"We consider that the proposed acquisition is likely to lead to less competitive tender responses to local councils seeking on-street parking solutions and reduce innovation."Recent figures by real estate group Ray White discovered motorists in Brisbane pay the most for parking at $79.83 a day. Picture: Annette Dew.

"Orikan account for about half of all local council contracts, while Duncan take up about a quarter," he told news.com.au "It is already frustrating to park as it is. Those meters that are preset at $10 and motorists have to keep pressing to get it to what they want, but if you think it’s bad now, wait until these two dominant companies merge," he said.

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