Western Australian Current Regulations Western Australian Current Regulations An Access Arrangement
Period accepted by the Relevant Regulator may be of any length; however, if
the Access Arrangement Period is more than five years, the Relevant Regulator
must not approve the Access Arrangement without considering whether mechanisms
should be included to address the risk of forecasts on which the terms of the
Access Arrangement were based and approved proving incorrect. These mechanisms
may include:
(a)
requiring the Service Provider to submit revisions to the Access Arrangement
prior to the Revisions Submission Date if certain events occur, for example:
(i)
if a Service Provider’s profits derived from a
Covered Pipeline are outside a specified range or if the value of Services
reserved in contracts with Users are outside a specified range;
(ii)
if the type or mix of Services changes in a certain way;
or
(b) a
Service Provider returning some or all revenue or profits in excess of a
certain amount to Users, whether in the form of lower charges or some other
form.
Where a mechanism is
included in an Access Arrangement pursuant to section 3.18(a), the Relevant
Regulator must investigate no less frequently than once every five years
whether a review event identified in the mechanism has occurred.
[Section 3.18 amended: Gazette
2 May 2003 p. 1526.]