Rail

Consultation paper

On 16 February 2022, the ACCC released a consultation paper inviting submissions on ARTC's public annual compliance documentation for calendar years 2019 and 2020. Submissions closed on 17 March 2022 and are available on the ACCC's website.

ARTC's compliance submission

In version 8 of the HVAU, ARTC committed to using its 'best endeavours to complete the 2019 and 2020 Compliance Assessments as a single submission' (Section 4J.10 (g)). On 26 November 2021, ARTC submitted its annual compliance documentation for calendar years 2019 and 2020. ARTC submitted revised versions of the main compliance submission documents and confidential financial model on 7 and 27 January 2022 to rectify minor errors.

Concluding report

On 21 October 2021, the ACCC published its supplementary paper to GHD's Concluding Report - Developing a Regulatory Asset Base value for the Australian Rail Track Corporation Interstate Network, using the Depreciated Optimised Replacement Cost method. 

Privatise for efficiency, or not at all

Privatising assets without allowing for competition or regulation creates private monopolies that raise prices, reduce efficiency and harm the economy, ACCC Chair Rod Sims said in a speech on Thursday.

Speaking at the 2021 ACCC/AER Regulatory Conference, Mr Sims discussed the need to either avoid monopolies, or if not then regulate them, to prevent costs to the economy arising from unfettered use of their market power.

Mr Sims put forward two possible solutions to avoid privatisations creating future unfettered private monopolies.