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“The draft decision paves the way for the network’s regulation to stay under the jurisdiction of the Queensland Competition Authority, as opposed to the national regulator,” said Mr Fraser.

“Today’s announcement by the NCC is an endorsement of the measures the Queensland Government has put in place to deliver an open and competitive industry.

We said we had an open and competitive access regime and the NCC’s recommendation backs this up.

“While the decision is in draft form, it is a strong indication that the network will maintain under the watch of Queensland’s own independent regulator.

“This decision will deliver certainty to all access seekers and other parties, not to mention potential investors in the QR National float.

“It also complies with our commitments under the COAG Competition and Infrastructure Reform Agreement,” he added.

The Queensland Parliament has already passed legislation to further boost the competitiveness of the access regime.

Mr Fraser said the decision by the NCC to recommend certification is a setback to attempts to have the network ‘declared’ under the National Access Regime – which would mean having the network’s regulation overseen by the ACCC.

“There are others who have attempted to cruel the QR National float by running inaccurate scare campaigns in the media about the effectiveness of the Queensland access regime,” Mr Fraser said.

“These are the same people who have complained about the supposed lack of competition in the Queensland coal network, despite telling their own investors that they are already forecast to achieve 30% of the Queensland market-share by 2020.

“The proposed recommendation by the NCC puts a lie to those claims.”

Media contact: 3224 5982

Source: Media Newswire