Queensland Rail’s provision of below-rail services is governed by its 2016 access undertaking. Under schedule E, we are required to assess the prudency of Queensland Rail’s capital expenditure for inclusion in the regulatory asset base (RAB).
The assessment of the prudency of capital expenditure generally takes place each year after the capital expenditure has occurred. However, in this instance, the assessment encompasses the four-year period from 2013–14 to 2016–17.
We assessed and accepted the 2013–17 capital expenditure claim for the West Moreton system—as submitted on 21 December 2017, revised on 5 March 2018 and amended on 27 February 2019—under the provisions of schedule E of the 2016 access undertaking. In assessing the prudency of the capital expenditure, we considered three aspects of the works:
- standard of works
We appointed expert consultant B&H Strategic Services (B&H) to assess Queensland Rail’s 2013–17 capital expenditure claim and provide an independent opinion on the prudency of each project. B&H’s report can be downloaded below.
|25 October 2017||Queensland Rail requested a two-month extension of the submission date (to 31 December 2017)|
|9 November 2017||The QCA granted the extension request|
|21 December 2017||Queensland Rail submitted its 2013–17 capital expenditure claim|
|22 December 2017||The QCA invited stakeholders to comment on Queensland Rail’s 2013–17 capital expenditure claim|
|5 February 2018||Stakeholder submissions were due (the QCA received one submission)|
|5 March 2018||Queensland Rail submitted a revised capital expenditure claim in response to a request for additional information|
|13 December 2018||The QCA published the consultant’s final assessment and invited comments on the consultant’s report|
|24 January 2019||Stakeholder submissions were due (the QCA received three submissions)|
|27 February 2019||Queensland Rail submitted an amended capital expenditure claim with revised interest during construction (IDC) calculations|
|21 March 2019||The QCA accepted Queensland Rail’s 2013–17 capital expenditure claim|
Submissions on Queensland Rail’s capital expenditure report
On 21 December 2017, Queensland Rail submitted its capital expenditure report covering works completed in the four years from 2013–14 to 2016–17.
We invited stakeholders to comment on Queensland Rail’s 2013–17 capital expenditure claim by 5 February 2018. We received one submission, which is available below.
Submissions on the consultant’s report
We appointed expert consultant B&H Strategic Services (B&H) to assess Queensland Rail’s 2013–17 (subsequently revised) capital expenditure claim and provide an independent opinion on the prudency of each project. B&H’s report is available below.
Stakeholders were invited to submit comments on B&H’s report by 24 January 2019. We received three submissions, which are available below.
The B&H report, submissions, QCA stakeholder notices and related documents can be downloaded below.