Western Australian Current Regulations Western Australian Current Regulations The Depreciation
Schedule should be designed:
(a) so
as to result in the Reference Tariff changing over time in a manner that is
consistent with the efficient growth of the market for the Services (and which
may involve a substantial portion of the depreciation taking place in future
periods, particularly where the calculation of the Reference Tariffs has
assumed significant market growth and the Pipeline has been sized
accordingly);
(b) so
that each asset or group of assets that form part of the Capital Base is
depreciated over the economic life of that asset or group of assets;
(c) so
that, to the maximum extent that is reasonable, the depreciation schedule for
each asset or group of assets that form part of the Capital Base is adjusted
over the life of that asset or group of assets to reflect changes in the
expected economic life of that asset or group of assets; and
(d)
subject to section 8.27, so that an asset is depreciated only once (that is,
so that the sum of the Depreciation that is attributable to any asset or group
of assets over the life of those assets is equivalent to the value of that
asset or group of assets at the time at which the value of that asset or group
of assets was first included in the Capital Base, subject to such adjustment
for inflation (if any) as is appropriate given the approach to inflation
adopted pursuant to section 8.5A).
[Section 8.33 amended: Gazette 7 January 2000 p.
62; 2 May 2003 p. 1526 and 1527.]