The 2011 Hunter Valley Coal Network Access Undertaking (HVAU) requires the Australian Rail Track Corporation (ARTC) to submit documentation to the ACCC for the purpose of an annual compliance assessment.
Section 4.10 and Schedule G of the HVAU require 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 23 December 2020, ARTC submitted its original annual compliance documentation for the twelve-month period from 1 January 2018 to 31 December 2018. On 15 January 2021, ARTC resubmitted its 2018 Compliance submission, Attachment 1 (Operating Costs) and the confidential financial model with minor amendments. The resubmitted 2018 Compliance submission and Attachment 1, along with the originally submitted Attachments 2 and 4, are available at: Compliance submission.
On 16 February 2021, the ACCC released a consultation paper inviting submissions on ARTC's annual compliance documentation. Stakeholder submissions closed on 24 March 2021.
On 17 June 2021, ARTC resubmitted its 2018 Compliance submission, Attachment 1 (Operating Costs) and the confidential financial model. This was to correct an input error that resulted in an over allocation of approximately $900,000 in overhead costs to the Hunter Valley Coal Network. The resubmitted 2018 Compliance submission and Attachment 1 are available at: Amended submission.
On 10 August 2021, the ACCC released its final determination for the period 1 January to 31 December 2018. The ACCC's final determination is that ARTC’s revised submission from 17 June 2021 is in accordance with all requirements under the HVAU. The submitted true-up test audit is also in accordance with HVAU requirements. The ACCC also published ARTC's response to HRATF's stakeholder submission, received during the ACCC's consultation process.