Project overview

Industry

Status

The 2011 Hunter Valley Access Undertaking (2011 HVAU) requires Australian Rail Track Corporation (ARTC) to submit documentation to the ACCC for the purposes of an annual compliance assessment. Section 4.10 and Schedule G of the 2011 HVAU 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 5 August 2019, ARTC submitted its annual compliance documentation for the twelve month period from 1 January 2016 to 31 December 2016.

On 23 August 2019, the ACCC issued a consultation paper on ARTC's 2016 Annual Compliance documentation. Submissions to this consultation paper were due 5 September 2019.

On 23 December 2019, the ACCC released its final determination on ARTC's compliance for the 2016 calendar year.

The Commission has been notified by ARTC that it considers the 2016 Compliance Assessment should also include an amount for “backdating” the application of the cost allocation framework in Schedule I (as well as the rate of return and remaining mine life). Given the significant payments due to Hunter Valley Access Holders, ARTC advises that it does not wish the ACCC to defer its 2016 Compliance Assessment decision but will be consulting with stakeholders in 2020 on the optimal method to address this issue.

Timeline