Watchdog ticks ARTC access undertaking

<p>The Australian Competition and Consumer Commission (ACCC) had accepted the Australian Rail Track Corp’s (ARTC) interstate access undertaking, the ACCC said today.</p> <p>"The undertaking is particularly important as continued growth in rail freight volume and rail efficiency is likely to be of increasing significance to Australia’s long-tern competitiveness," ACCC chairman Graeme Samuel said.</p> <p>The undertaking sets out the principles and processes through which the ARTC must provide access to the interstate rail network with a view to creating "a degree of certainty about the terms and conditions on which access will be available" before operators invest.</p> <p>The undertaking provided for </p> <p>&#8226 A10-year regulatory term </p> <p>&#8226 Negotiation and dispute resolution processes </p> <p>&#8226 Access prices for indicative services </p> <p>&#8226 Price certainty between access undertakings </p> <p>&#8226 An indicative access agreement </p> <p>&#8226 Approval of $670m in capital investment over five years </p> <p>&#8226 A review after five years </p> <p>&#8226 Access on a scheduled or ad hoc train path basis </p> <p>&#8226 Consultation before provision of extra network capacity </p> <p>&#8226 Public ARTC service reporting and </p> <p>&#8226 The ACCC to apply to the Federal Court if the ARTC breaches any undertaking terms.</p> <br />