Section 4.4 of the HVAU, prescribes the basis upon which RAB values for each Segment of the Network will be initially determined and rolled forward annually.
The initial RAB value of a Segment (as at the Commencement Date of the HVAU) was determined by:
- in relation to those Segments that have been ascribed a regulatory asset value in accordance with the NSW Rail Access Undertaking in force at the time immediately preceding the Commencement Date, set at the value of those Segments determined in accordance with the NSW Rail Access Undertaking as at the Commencement Date (1 July 2011).
- in relation to other Segments, initially valued using the depreciated optimised replacement cost method of valuing assets, and approved by the ACCC. The optimised replacement cost means the cost of replacement by commercially efficient application of best known currently available technology based on existing capacity and performance characteristics of the asset.
In relation to those Segments that have been ascribed a regulatory asset value in accordance with the NSW Rail Access Undertaking in force at the time immediately preceding the Commencement Date of the initial 2011 HVAU, the initial RAB value approved as at the Commencement Date, 1 July 2011, is provided below. The initial RAB value for each Segment has been approved by the NSW Independent Pricing and Regulatory Tribunal as the closing RAB value for the 2010/11 financial year determined in accordance with the NSW Rail Access Undertaking.
|–||1 July 2011 initial RAB value (as at the Commencement Date) for relevant Segments||08 Mar 2013||08 Mar 2013|
For other Segments, the most recently approved depreciated optimised replacement cost (DORC) valuation is provided for guidance.
|–||Approved DORC valuation for relevant Segments||11 Jul 2011||11 Jul 2011|
Initial RAB values are rolled forward annually in order to determine opening RAB Floor Limit for each calendar year. These values are approved by the ACCC as part of the annual compliance assessment under Section 4.10 of the 2012 HVAU for the previous calendar year. The most recent RAB Floor Limit values approved by the ACCC are provided below.
|–||RAB Floor Limit values for relevant Segments||31 Mar 2014||31 Mar 2014|