PRC Releases FY 2020 Annual Report to the President and Congress
Washington, DC – Today, the Postal Regulatory Commission (Commission) released its Fiscal Year 2020 (FY 2020) Annual Report to the President and Congress. The report provides a summary of the primary activities undertaken by the Commission throughout the year. By law, the Commission is required to submit its report to the president and Congress 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 of 2006. The Commission’s report must also include an estimate of the Postal Service costs to provide certain services that the Postal Service would not otherwise have provided except for a legal requirement.
Despite the Commission having to complete its work under the shadow of a global pandemic, the agency had several significant accomplishments throughout the year that provided tools to improve the Postal Service’s financial position, increased transparency and accountability of Postal Service operations, and highlighted Commission efficiencies.
Most notably, the Commission:
- Completed its review of the current system for regulating rates and classes for Market Dominant products and issued its final rule modifying the existing price cap system
- Reviewed and approved the Postal Service’s planned rate adjustments for Market Dominant and Competitive products and new product proposals
- Explored important issues in public inquiry dockets related to service performance, the value of the postal and mailbox monopolies, and city carrier costs
- Published three reports that (1) reviewed the Postal Services 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
- Presided over several rulemakings related to Commission processes and activities
A complete review of the Commission’s activities throughout the year is available on its 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 Chairwoman Ashley Poling and Commissioners Mark Acton, Ann Fisher, and Robert Taub. Follow the PRC on Twitter: @PostalRegulator and LinkedIn.