Western Australian Numbered Acts

ELECTRICITY INDUSTRY ACT 2004 (NO. 5 OF 2004) - SECT 119

119 .         Value of existing facilities

        (1)         In this section —

        “existing facilities” means network infrastructure facilities of a relevant corporation;

        “ministerial valuation” means a valuation of existing facilities obtained by the Minister under subsection (2).

        (2)         The Minister may at any time commission a suitably qualified and experienced person to —

            (a)         undertake a valuation of existing facilities in accordance with the asset valuation methodology known as depreciated optimised replacement cost; and

            (b)         provide that valuation to the Minister.

        (3)         If —

            (a)         it is necessary under the Code or an access arrangement, or it is otherwise appropriate, for the Authority or any other person to have regard to the depreciated optimised replacement cost of existing facilities for the purpose of network access price regulation in respect of access to services of those facilities; and

            (b)         there is a ministerial valuation of those facilities,

                the ministerial valuation is taken to be the depreciated optimised replacement cost of those facilities.