Bet­ter deal of­fered to Aur­i­zon

Townsville Bulletin - - NEWS -

AUR­I­ZON shares have risen af­ter the reg­u­la­tor of­fered it a bet­ter deal on how much it can make from its mo­nop­oly coal net­work in Queens­land.

The Queens­land Com­pe­ti­tion Au­thor­ity has re­leased its lon­gawaited fi­nal de­ci­sion – a mas­sive 460- page doc­u­ment – that al­lows Aur­i­zon to earn $ 4.12 bil­lion over four years. That is about $ 230 mil­lion more than pre­vi­ously granted but still $ 769 mil­lion short of what the rail op­er­a­tor had asked for orig­i­nally.

It fol­lows a 2 ½ - year bat­tle be­tween Aur­i­zon and the QCA, in­clud­ing Supreme Court ac­tion which Aur­i­zon lost last month.

Aur­i­zon has 60 days to re­spond and yes­ter­day de­clined to say if it would com­ply.

“We will re­view the fi­nal de­ci­sion in de­tail and make a de­ter­mi­na­tion re­gard­ing any po­ten­tial im­pact on op­er­at­ing prac­tices,” a spokesman said.

In­dus­try an­a­lysts com­mented that it was a more pos­i­tive de­ci­sion than ex­pected, how­ever they also said an ap­peal by Aur­i­zon was con­sid­ered likely.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.