New Hope welcomes QCA decision on Queensland Rail

21 June 2016

New Hope Group welcomes the decision made by Queensland Competition Authority (QCA) to refuse to approve Queensland Rail’s (QR) 2015 draft access undertaking (DAU) for providing access to its below-rail services.

QR has been issued with a secondary undertaking notice requesting an amended copy of the DAU be submitted no later than 16 August 2016.

As part of their decision, the QCA requires both a lower access charge apply until 2021, and that QR pay users an adjustment for over-recovery of revenue for the period between 1 July 2013 and the commencement date of the new regulatory period.

Managing Director Shane Stephan said the QCA's decision is commercially sensible and would bring certainty to all parties.

"The decision and its implementation is important for new investment along the rail corridor because it gives users certainty about how the tariff will be calculated in the future and how access will be controlled."

"New Hope is looking forward to operating under a new access undertaking and working constructively with our supply chain partners to ensure operations are competitive in this difficult market," he said.

A full copy of the decision can be found online at the QCA website at www.qca.org.au.