The accepted Hunter Valley Access Undertaking requires ARTC to submit documentation to the ACCC for the purposes of an annual compliance assessment. Section 4.10 and Schedule G of the undertaking requires the ACCC to determine whether ARTC has complied with the financial model and pricing principles specified in the undertaking and whether there has been any under or over recovery of revenue from users that needs to be reconciled.
On 1 May 2015, ARTC submitted its annual compliance documentation for the twelve month period from 1 January 2014 to 31 December 2014. This documentation was submitted while the 2013 Annual Compliance assessment was ongoing. The ACCC’s assessment of the 2013 Annual Compliance documentation was finalised in June 2016. On 19 September 2016, ARTC resubmitted its 2014 Annual Compliance documentation which took account of the findings of the 2013 Annual Compliance assessment.
ARTC then submitted a revised financial model to the ACCC of 27 February 2017 that included corrections to a small number of errors contained in the September 2016 submission. The ACCC released its final determination on 31 March 2017.