SP AusNet appeal to Australian Competition Tribunal dismissed

The Australian Competition Tribunal has dismissed Singapore-listed energy company SP AusNet's appeal regarding how much of the company's forecast costs would be allowed. -- FILE PHOTO: BLOOMBERG
The Australian Competition Tribunal has dismissed Singapore-listed energy company SP AusNet's appeal regarding how much of the company's forecast costs would be allowed. -- FILE PHOTO: BLOOMBERG

The Australian Competition Tribunal has dismissed Singapore-listed energy company SP AusNet's appeal regarding how much of the company's forecast costs would be allowed.

SP AusNet said on Tuesday that it is "disappointed" about the dismissal of its appeal in relation to the Australian Energy Regulator's 2012-15 Budget and Charges Determination for Advanced Metering Infrastructure.

In October 2011, the regulator had disallowed $106.6 million of SP AusNet's forecast costs for the three-year period, the company said.

SP AusNet had filed an appeal for $73.9 million of the disallowed costs, and the regulator had approved $17.5 million of that in February this year.

However, the appeal for the remaining $56.4 million shortfall was dismissed, SP AusNet said in a statement on Tuesday.

"SP AusNet will carefully review the implications of the (tribunal's) decision and determine whether it is appropriate to take any further action," the company said.

"In addition, in respect of the disallowed costs not appealed ($32.7m), SP AusNet will continue to review its options to recover these costs," it added.