Hunter Valley rail network annual compliance assessment 2022

Australian Rail Track Corporation (ARTC) is required to submit documentation detailing the roll forward of the RAB Floor Limit to the ACCC by 30 April each year, relating to the previous calendar year. However, under section 4J.10(a1)(ii) of the HVAU (version 8) if, due to a delay in the finalisation of compliance assessments from previous years, it is not reasonably possible for ARTC to submit that information, then ARTC must give notice to the ACCC and Constrained Coal Customers of its indicative estimate of the total unders and overs amount for the relevant compliance year by 30 April of the following year.

As the compliance assessment for 2021 was not going to be finalised in time, on 27 April 2023 ARTC submitted its indicative estimate of total unders and overs for the 2022 compliance year, in accordance with section 4J.10(a1)(ii) of the HVAU. We understand that ARTC has provided the indicative total estimate and estimates of the respective share owed to each Constrained Coal Customer prior to notifying us. ARTC's indicative estimate for 2022 is a $18.3 million under recovery from customers.

ARTC must also provide the final written report of the True-Up Test, as prepared by the auditor, to the ACCC by no later than 30 April of the following calendar year (section 4.10A(j) of the HVAU).

On 27 April 2023 ARTC submitted the final report of the True-Up Test, in accordance with section 4.10A(j) of the HVAU. Grant Thornton concluded that ARTC has complied, in all material respects, with the requirements as measured by their obligations defined in Schedule 2 of the Access Holder Agreements for 2022.

ARTC's indicative estimate notice and True-Up Test audit report are available below.