Non-TUT Performance Incentives variation application - 3 August 2012
On 3 August 2012 ARTC submitted to the ACCC a request to vary its 29 June 2011 HVAU.
The proposed variation was lodged in accordance with section 13.3 of the June 2011 HVAU and sought to include a performance incentive scheme which has the objectives of encouraging ARTC, through financial reward, to improve operating, maintenance and capital expenditure efficiency, and achieve desirable safety performance.
The proposed variation, together with supporting documentation from ARTC, is available below. As part of its application ARTC has included copies of submissions it received from interested parties during its pre-lodgement consultation process.
On 4 September 2012 the ACCC issued a Consultation Paper calling for submissions by interested parties. The Consultation Paper and submissions received in response are available below.
On 24 December 2012, ARTC withdrew its proposed non-TUT related performance incentives variation lodged on 3 August 2012.
Section 13.3(b)(iii) of the June 2011 HVAU requires ARTC to lodge a variation to incorporate non TUT related performance incentives. However, in light of the submissions to the ACCC’s Consultation Paper and ARTC’s withdrawal of the August 2012 variation, the ACCC will not pursue enforcement of section 13.3 of the June 2011 HVAU at this time. The ACCC is not seeking enforcement of section 13.3(b)(iii) on the condition that the non-TUT related performance incentives will be developed and lodged by ARTC when developing its TUT related performance incentives mechanism under section 13.5 of the June 2011 HVAU.
The letter from ARTC withdrawing the undertaking and the ACCC’s letter in response are below.
